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Towing accessories supplier TriMas Corp. announced recently it entered into an agreement to purchase HammerBlow Towing Systems.
The $142 million deal will make Bloomfield, Mich.-based TriMas the owner of Tekonsha Towing Systems, Hidden Hitch, SurePull and The Hammerblow Corp. – all of which will be integrated into TriMas’ Cequent operating group.
Plymouth, Mich.-based Cequent currently controls Reese Products Inc. and Draw-Tite, both in Goshen, Ind.
“HammerBlow Towing Systems brings great products and strong brands to our portfolio, which is a wonderful complement to the current Cequent family of brands, and a much broader value proposition for our customers,” Cequent President Scott Hazlett said.
HammerBlow Towing Systems was created by private equity firm The Riverside Company, which had previously purchased Tekonsha Towing Systems, Hidden Hitch, SurePull and The Hammerblow Corp. separately and combined them into one business entity.
Brake-control supplier Tekonsha was sold by the Dana Corp. late last year.