Tuthill Corp.'s Mt. Vernon vehicle suspension company purchased

Last edited 10:50 a.m., Feb. 4, 2011

MAT Capital, an affiliate of Long Grove, Ill.-based manufacturer and supplier MAT Holdings Inc., has purchased Mount Vernon-based Recyo Granning Suspensions from Burr Ridge, Ill.-based Tuthill Corp., the holding company for Springfield-based Tuthill Vacuum and Blower Systems. Reyco is a manufacturer of suspension systems for heavy duty vehicles.

Financial terms were not disclosed.

Reyco was founded in 1924 as Reynolds Manufacturing Company and has been designing and manufacturing suspensions systems for more than 85 years, according to a Tuthill news release.

Reyco President Ray Mueller, who has been with the company for more than 25 years, said the company's senior leadership team stayed intact during the transition.

"This group has been in place since early 2010 and consists of both new and long-time managers that have been able to produce significant results over the past year," he said in the release.

Reyco facilitated the buyout, conducting a search for a company that could provide financial support and bring industry experience. MAT Capital met both needs, Mueller said.

"We are excited to have a strategic partner that shares our commitment to serve our customers and provide bright futures for our employees," he said in the release. "Our new partner brings not only financial resources, but a shared global view of the heavy-duty vehicle market."

Tuthill Corp., an international manufacturer and distributor to more than 150 markets, was formed in 1977.
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