NEWS RELEASES
Pacific Equity Partners To Purchase Horizon Global Asia-Pacific Segment
Editor's Note: This news item was retrieved and first published through BusinessWire's website.
TROY, Mich.- Horizon Global Corporation announced that it will sell its Asia-Pacific (APAC) business segment to to Pacific Equity Partners (PEP), a leading Australian private equity firm, for AUD $340 million in cash. The sale is expected to close before the end of the third quarter of 2019. Horizon Global, which designs, manufactures and distributes a wide variety of branded towing and trailering equipment, will use the proceeds from the sale to significantly reduce its debt and bolster its liquidity.
“APAC is led by an outstanding management team and has a track record of developing innovative products and solutions for its customers,” Andrew Charlier, a PEP managing director, said in a news release. “We are excited to support management by investing in product development, geographical expansion, and the potential acquisition of additional brands in order to continue to deliver quality products and service to our customers.”
For more, visit the Global Horizon website.
Business, Funding, Industry Updates, International, News, Trailers