The Original Gabriel (Ride Control, LLC) announced the transaction to change its ownership from OpenGate Capital, LLC to MAT Holdings, Inc., has been finalized, effective today.
MAT Holdings, Inc., a global manufacturer and distributor of products in the automotive, hardware, and power equipment sectors, has reached a definitive agreement with Auto Rider, LLC to purchase 100 percent of Ride Control, LLC.
Gabriel’s business fits into the existing set of MAT companies providing a unique product line along with the strength of a well-known and respected brand.
“We are energized by the future potential for growth and expansion as we look forward to a long and mutually beneficial relationship with MAT Holdings, Inc.” said Lisa Bahash, president of Ride Control, LLC.
“MAT is extremely excited about this acquisition. There are tremendous synergies between our businesses and this will position our company to uniquely serve the OE and aftermarket needs of the passenger and commercial vehicle segments for years to come,” said MAT Holdings CEO Steve Wang.
Ride Control had been a portfolio company of OpenGate Capital, LLC, a private investment and acquisition firm headquartered in Los Angeles, California since June of 2009.
In just three and a half years with OpenGate, Gabriel accomplished much:
• creating a stable, stand-alone company
• re-establishing the respect of a historical and admired brand
• transforming Gabriel from an underperformer to a sustainable, growing business
“Today, we have created yet another milestone for Gabriel, ourselves, and our collective future,” concluded Bahash. “We are pleased with our new alliance with MAT Holdings, Inc. as we join a team of companies within the same industry,” continued Bahash.
MAT Holdings, Inc. is a privately held company, founded in 1984, that has quickly grown as a respected global manufacturer, distributor and marketer of products in the fencing and hardware, automotive, and power equipment sectors. Headquartered in Long Grove, Illinois it has operations on three continents, including 2.1 million square feet of U.S. distribution and manufacturing space, and provides its customers with a full range of services including U.S. and overseas engineering, quality assurance, logistical and distribution support, strategic warehousing, bi-lingual sourcing, product development and marketing. For more information regarding MAT Holdings, Inc. and its family of companies go to www.mat-holdings.com.