Reyco Granning Suspensions has been purchased from Tuthill Corp. in a management buyout backed by the private investment group MAT Capital. The new privately held company, called Reyco Granning LLC, will continue to manufacture air, steel spring and auxiliary suspension systems for trucks, trailers and specialty vehicles.

Ray Mueller, a 25-year veteran at Reyco Granning and president of the group since last year, will continue to serve as president of the new company.

“Our senior leadership team will stay intact,” Mueller said in a news release. “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.”

MATCapital is an affiliate of MAT Holdings, Inc., a privately held company involved in global manufacturer, distributor and marketing of products in fencing, automotive, and power equipment. “Our new partner brings not only financial resources, but a shared global view of the heavy-duty vehicle market,” said Mueller.