Valley Towing Products, a Rochester Hills, Mich.-based manufacturer and distributer of state-of-the-art hitches and towing systems, has been acquired by Revstone Performance Manufacturing (RPM-Tec), a division of Revstone Transportation.
Revstone has named Bob LeCourciere as the new president of RPM-Tec, according to a news release.
“Valley is a respected name in towing systems and accessories,” LeCourciere said. ”Revstone gives Valley Towing Products the financial depth to better meet customer needs and grow.”
Valley Towing joins Revstone with more than 60 years of providing quality towing products that ensure customer satisfaction across the country. Valley was the first in the industry to offer commercially packaged products that could be shipped throughout the country to traditional warehouse distributors, jobbers, retail dealers and installers. The company produces trailer hitches for more than 400 different vehicle applications.
Revstone engineers, designs, manufactures and markets innovative products and services used in a wide range of industrial and consumer applications including RVs, transportation, aerospace, energy, general industrial, agriculture, electronics and consumer industries with more than $1 billion in projected revenues. Revstone is a global company with executive offices in Lexington, Ky., Detroit, Mich., New York and the Netherlands with manufacturing facilities across the United States, Canada, Costa Rica and Mexico.
Valley Towing Products’ management team has purchased the company from former parent company Thule, a Swedish company primarily known for making bike racks and carriers. The purchasing entity is named GRLC LLC and will continue its marketing efforts under the name Valley Towing Products, according to a news release.
Valley has a manufacturing and distribution center in Lodi, Calif., and operates additional distribution centers in Grove City, Ohio, Dallas, Texas, and Tifton, Ga.
The company has been producing a complete line of professional quality trailer hitches and towing equipment for over 59 years. Valley carries over 400 different receiver style hitches along with fifth-wheel and gooseneck hitches, luggage racks, cargo carriers, bike racks and a full assortment of towing accessories including trailer balls, ball mounts, hitch pins and locks.
The primary investors include George Caplea, CEO and president; Richard Marsden, CFO; Larry Fisher, vice president of sales and marketing; Chris Fudala, vice president of engineering; and Brian Rishell, vice president of global sourcing and purchasing. A purchase price was not disclosed.
The acquisition provides a platform for the company to move forward in its quest to increase share in the towing aftermarket, according to Valley’s management team.
”Having ‘trailer hitch people’ owning a trailer hitch business is a very good thing,” said Fisher, adding “At Valley, the ownership and management team is now comprised of people with vast experience in the towing aftermarket doing what they have been trained best to do: building and selling trailer hitches and towing accessories.”
According to Valley’s management team, the company’s growth plans revolve around joining forces with the best possible customer partners. “Valley has no desire to act as a distributor or compete with customers as other manufacturers have done,” the company said in a statement.