Horizon Global to Acquire Westfalia-Automotive and Terwa

Horizon Global Corporation (NYSE: HZN), a leading manufacturer of branded towing and trailering equipment, announced today that it has entered into a definitive agreement to acquire Westfalia-Automotive and Terwa, collectively referred to as the Westfalia Group, a leading global towing company.

As part of the transaction, Horizon Global will acquire the popular brands, Westfalia, Terwa and Siarr from an investor consortium led by DPE Deutsche Private Equity, which will become a shareholder of Horizon Global as part of the transaction.

Westfalia is the inventor of the European ball towbar and has been manufacturing and marketing branded towing products since 1932. Offering more than 1,700 different types of towbars, Westfalia is headquartered in Rheda-Wiedenbrück, Germany. Westfalia holds approximately 100 towbar patents and more than 30 transport system patents, operating facilities in 11 countries.

At the close of the deal, Horizon Global will become an approximately $800 million global designer, manufacturer and distributor of a wide variety of towing, trailering, cargo management and other related accessory products.

Category: General Update