MAT Holdings, Inc., a global manufacturer and distributor of products in the automotive, hardware, and power equipment sectors, has announced its purchase of Ride Control, LLC from OpenGate Capital, LLC.
According to MAT Holdings CEO Steve Wang, “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.”
Ride Control, LLC operates in both the aftermarket and original equipment manufacturer (commercial, industrial and recreational vehicle) segments under the Gabriel (U.S. and Canada) and GRC (Mexico) brand names.
The company originated the world’s first automotive shock absorber, “The Snubber,” in 1907, and continues today to be a leader in the design, engineering, development and production of shock absorbers in North America. Ride Control, LLC generates more than $210 million in sales and has more than 1,400 employees in the U.S., Canada and Mexico.
The company maintains engineering, design, manufacturing, warehouse, sales and management offices throughout North America including Troy, Michigan; Chickasha, Oklahoma; Brentwood, Tennessee; and Queretaro, Mexico. The business was acquired by OpenGate Capital in 2009 and underwent significant operational improvements that led to increased sales and profitability.
“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.
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. For additional information, please visit www.gabriel.com.