The senior management of the Reading Group, led by Dan Perlman, Jack O'Donnell and Norm Ziegler, are finalizing a buyout of the Reading companies from the Suknow family with the assistance of LLR Partners, a Philadelphia-based investment firm.
The entire Reading Group management team will remain unchanged, as will the company's philosophy.
“The daily operations will continue seamlessly,” said Perlman, the president. "We recognize our core strengths are our talented and dedicated employees, a strong network of loyal distributors, and a commitment to manufacture innovative products of the highest quality that meet and exceed our customers' expectations. This provides a stable foundation as we begin this new era in our company. We are very excited about our new partnership with LLR Equity Partners. The resources that they will provide will serve to strengthen Reading's position as a leader within our industry."
Reading Truck Body, Inc., a family-owned business for over 50 years, is a leading manufacturer of truck equipment including service bodies, stake bodies, custom utility bodies, pickup truck caps and accessories for pickups and vans. The company has been at the forefront of technological advances and processes in the industry. In 1987, they pioneered the use of electrocathodic priming on service bodies. In 2002, they became the first body manufacturer to powder coat their bodies. In 2003, they introduced Latch Matic, a keyless remote electronic door locking system. Most recently, in 2005, Reading Truck Body introduced the revolutionary new C2-50 Service Body, addressing the security and convenience needs of the consumer with innovative new features.
Reading Equipment and Distribution, Inc. is a full truck equipment distribution and installation company with five locations including Bowmansville, PA, Mt. Airy, MD, Abington, PA, Seneca, PA and Suffolk, VA. Reading Equipment & Distribution, Inc. represents literally hundreds of products, specializing in Reading service bodies and a variety of other truck equipment including dump bodies, snowplows, mobile hydraulic equipment, cranes, and much more including truck accessories. Reading Equipment & Distribution recently added Ford ship-through and freight re-entry capabilities with the opening of the Suffolk, Virginia, location in 2004.
LLR Partners, a leading private equity firm managing over $600 million, assists talented management teams, primarily based in the Mid-Atlantic region, in growing their businesses by providing capital and strategic assistance.