Not shocking: Deal for Gabriel goes through
The sale of Ride Control LLC and its Gabriel brand of shocks and struts to MAT Holdings Inc. has been finalized. Ride Control had been a portfolio company of OpenGate Capital LLC since June of 2009.
Modern Tire Dealer first reported on the sale on Oct. 29, 2012.
"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,” says MAT Holdings CEO Steve Wang.
In just three and a half years with OpenGate, Gabriel executives accomplished the following:
* created a stable, stand-alone company;
* re-established the respect of a historical and admired brand;
* transformed Gabriel from an underperformer to a sustainable, growing business.
“Today, we have created yet another milestone for Gabriel, ourselves, and our
collective future,” says Lisa Bahash, president of Ride Control. “We are pleased with our new alliance with MAT Holdings Inc. as we join a team of companies within the same industry.”
For more information regarding MAT Holdings and its family of companies, visit www.mat-holdings.com.