Holland Group to buy Neway Anchorlok International

HOLLAND, Mich. (June 4) — The Holland Group plans to buy Neway Anchorlok International, a rival in heavy-duty suspension market. Financial terms were not disclosed.

In a joint statement, the companies said the union “marks an excellent strategic combination,” creating a company with “the scope and scale necessary to compete effectively in the worldwide marketplace and an enhanced ability to deliver customers a more complete package of industry-leading products.”

The deal, expected to close by mid-summer, further consolidates suppliers to the heavy-duty equipment markets.

The Holland Group, through its Holland Hitch, Holland Binkley and Holland ProPar operations, supplies coupling, lift, and suspension systems for trucks, tractors, and trailers. Neway builds air suspension systems, height control valves, spring brake actuators, and related products to the truck and trailer market.

James H. Greene, Jr., partner of KKR, which acquired Neway Anchorlok in 1995, said, “We have been very pleased with Neway Anchorlok’s growth over the past four years and believe this transaction represents the next logical step in the company’s development. In a consolidating industry where scale is becoming increasingly important, the combined Holland and Neway Anchorlok will be a formidable competitor.”

Neway established its suspension business in 1948, and its Anchorlok brake operation in 1957.