TriMas Corp has entered into an agreement to acquire HammerBlow Towing Systems Corp, a manufacturer of towing, trailer, and other vehicle accessories, for approximately $142 million on a debt-free basis.
The acquisition is subject to customary conditions and is expected to close as soon as practicable. HammerBlow and its subsidiaries had estimated annual sales of $108 million for the 12 months ended Sept 30, 2002.
HammerBlow Towing Systems Corp is controlled by The Riverside Co, a private equity firm, and will be integrated into TriMas' Cequent operating group.
The purchase of HammerBlow Towing Systems includes:
The HammerBlow Corp, incorporated in 1923 and based in Wausau WI, a producer of agricultural, industrial, recreational, utility, and construction trailer components.
Hidden Hitch, headquartered in Huntsville, Ontario, Canada, has been manufacturing a full line of under-the-bumper hitches and towing accessories since 1968.
Tekonsha Towing Systems of Tekonsha MI, supplies and manufactures proportional brake controls.
SurePull Towing Systems of Sheridan AR manufactures towing hitches and offers accessories and components.