October 29, 2012
Ride Control LLC, which supplies Gabriel brand light vehicle and heavy-duty OE and aftermarket shocks and struts, is being sold by OpenGate Capital to MAT Holdings Inc. Ride Control has been a portfolio company of OpenGate Capital, a private investment and acquisition firm headquartered in Los Angeles, since June of 2009. MAT Holdings Inc., a global manufacturer and distributor of products in the automotive, hardware, and power equipment sectors, has reached a definitive agreement with Auto Rider LLC to purchase 100% of Ride Control LLC. Final closing of the transaction is expected before Dec. 31."MAT is extremely excited about this acquisition. 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," said MAT Holdings CEO Steve Wang.