Horizon Global says it plans to acquire the Brink Group from H2 Equity Partners. The company said the purchase price would be €169m, financed through new long-term debt and cash.
US-based Horizon makes branded towing and trailering equipment. The Brink Group makes towbars, wiring kits and towing accessories. Headquartered in the Netherlands, the Brink Group has annual sales of about US$150m. It produces nearly one million towbars annually from nine facilities in eight countries.
“We are confident this combination will enhance our ability to better serve our customers and end users across all markets that we serve,” said Mark Zeffiro, president and chief executive officer of Horizon Global in a statement. “The new Horizon Global will greatly benefit customers with a strengthened global platform, broader product offerings and enhanced product innovation and design expertise.”
Zeffiro said he expects the acquisition to be accretive to earnings during its first full year as part of Horizon Global through a combination of operating performance and synergies.
The combined company will have about 5,300 employees, operating 67 facilities in 21 countries. The acquisition should be completed by the end of the second quarter 2018.