MOUNT VERNON, Mo. — Reyco Granning Suspensions, a U.S. manufacturer of suspension systems for heavy duty vehicles including trucks, trailers and specialty rescue, has been purchased from Tuthill Corp. in a management buyout backed by the private investment group MAT Capital.
MAT Capital is an affiliate of MAT Holdings, a privately held manufacturer and distributor of products for the fencing and hardware, automotive and power equipment sectors.
Reyco Granning LLC is a privately held suspension manufacturing company that produces air, steel spring and auxiliary suspension systems for trucks, trailers and specialty vehicle OEMs. The business was founded in 1924 as Reynolds Manufacturing Co. and has been designing and manufacturing suspensions systems for more than 85 years.
"We are excited to have a strategic partner that shares our commitment to serve our customers and provide bright futures for our employees," said Ray Mueller, president, Reyco Granning.
Mueller, who has been with the company for more than 25 years, served as VP, Engineering before being named president of the business in 2010.
To facilitate the management buyout, Reyco Granning’s management team says it conducted a search for a partner that could not only provide financial stability, but also one with transportation industry experience that could be leveraged to ensure the long-term viability of the company. "Our new partner brings not only financial resources, but a shared global view of the heavy-duty vehicle market," Mueller added. "Our senior leadership team will stay intact. This group has been in place since early 2010 and consists of both new and long-time managers that have been able to produce significant results over the past year."
