Horizon Global To Buy Brink Group - Quick Facts

(RTTNews) - Horizon Global Corp. (HZN) announced a definitive agreement to acquire the Brink Group, a manufacturer of towbars, wiring kits and towing accessories, from H2 Equity Partners. Horizon Global said the purchase price of 169 million euros will be financed through new long-term debt and cash on hand. The parties expect to complete the transaction by the end of the second quarter 2018.

Headquartered in the Netherlands, the Brink Group works closely with original equipment manufacturers and original equipment suppliers on various programs and also serves the aftermarket channel of the towing and trailering industry. The Brink Group produces nearly one million towbars annually. The Brink Group currently operates nine facilities in eight countries around the world.

Mark Zeffiro, CEO of Horizon Global, said: "We expect the acquisition to be accretive to earnings during its first full year as part of Horizon Global through a combination of operating performance and the realization of certain synergies."