Hendrickson Buys Truck Suspension Specialist Reyco Granning
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Hendrickson bought fellow truck suspension manufacturer Reyco Granning for an undisclosed sum, it said June 4.
Mt. Vernon, Mo.-based Reyco Granning manufactures suspensions for heavy and medium-duty vehicles.
The Reyco Granning unit produces suspension systems for motor homes, commercial trucks, emergency response vehicles, specialty trailers, buses and the aftermarket sector.
Around 100 Reyco Granning employees will join Hendrickson as part of the acquisition, a Hendrickson spokesman said in an email.
Reyco Granning was formed in early 2011 — after the merger of heavy-duty suspension manufacturers Reyco and Granning — by senior managers at the original equipment manufacturer and MAT Capital, a private investment group headquartered in Long Grove, Ill.
Woodridge, Ill.-based Hendrickson said the Reyco Granning brand will continue to operate independently under its existing name.
“We are excited about this acquisition, as it provides a platform for Hendrickson to expand our reach and manufacturing footprint. Reyco Granning will enhance our overall product portfolio and ultimately better serve our customers in the commercial vehicle industry; we look forward to promoting the Reyco Granning brand as part of our ride solutions portfolio,” Hendrickson CEO Matt Joy said.
Alongside medium- and heavy-duty mechanical, elastomeric and air suspension systems, Hendrickson manufactures integrated and non-integrated axle and brake systems; tire pressure control systems; auxiliary lift axle systems; parabolic and multi-leaf springs; stabilizers; and bumpers.
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The company’s last deal expanded its brakes business. In October, Hendrickson acquired commercial vehicle brake component specialist Brunner for an undisclosed sum.
Brunner’s primary product lines were brake shoes and s-cams. The company had two arms — Brunner International Inc. based in Medina, N.Y., and Brunner Manufacturing and Sales Ltd., based in Niagara Falls, Ontario.
At the time of the deal, Hendrickson said Brunner’s products would complement its core suspension systems business. Brunner added around 325 employees to the Hendrickson fold.
Before the Brunner deal was announced, it had been three years since Hendrickson’s last acquisition.
In August 2020, Hendrickson bought the Motor Wheel brake drum and Crewson slack adjuster business units of Stemco after a realignment at the Longview, Texas-based company.
Motor Wheel and Crewson are based in Chattanooga, Tenn., and Berea, Ky., and were intended to expand Hendrickson’s lightweight drum brake system line.
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