LONG GROVE, Ill. — A private investment group has purchased Reyco Granning Suspensions from its previous owner, Tuthill Corp.

Reyco Granning manufactures suspensions for heavy-duty trucks, trailers and specialty vehicles.

MAT Capital, an affiliate of MAT Holdings, is the new ownership group.

“We are excited to have a strategic partner that shares our commitment to serve our customers and provide bright futures for our employees,” said Ray Mueller, president, Reyco Granning.

The buyout was orchestrated by company management, which was looking for a partner that would provide financial stability as well as transportation experience.

“Our new partner brings not only financial resources, but a shared global view of the heavy-duty vehicle market,” said Mueller. “Our senior leadership team will stay intact. 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.”