Reyco Granning Suspensions has been purchased from Tuthill Corporation in a management buyout backed by the private investment group, MAT Capital, an affiliate of MAT Holdings, Inc. 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.
Founded in 1924 as Reynolds Manufacturing Company, Reyco has been designing and manufacturing suspensions systems for over 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 of Reyco Granning.
To facilitate the management buyout, Reyco Granning's management team 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 said. "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."