Horizon Global Corp.’s Board of Directors recently authorized the review of strategic alternatives to enhance shareholder value. The strategic alternatives could involve selling the business, the company said.
“Our objective is to maximize shareholder value,” said Horizon Global’s Board Chair John C. Kennedy. “We have received inbound interest in the company and, given this level of interest, the board has made the decision to review strategic alternatives. We believe there is significant value tied to our best-in-class products, iconic brands and deep customer relationships.”
There is no assurance Horizon Global’s process will result in any transaction or other alternative, the company said. No timetable has been set for the strategic review process.
Horizon Global does not plan to issue updates unless the board deems necessary, the company said.
Headquartered in Plymouth, Michigan, Horizon Global is a supplier of custom-engineered towing, trailering, cargo management and other related accessory products in North America, Europe and Africa. Horizon Global has approximately 3,800 employees.
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