Pacific Equity Partners to acquire Asia-Pacific Business Segment of Horizon Global.

Pacific Equity Partners has acquired Asia-Pacific (APAC) business segment Horizon Global, one of the world’s leading manufacturers of branded towing and trailering equipment, announced today that the Company for A$340m ($230m) in cash, subject to customary closing adjustments. The Company intends to use the proceeds from the sale to significantly reduce its debt and bolster its liquidity, allowing for additional financial flexibility. "Our APAC business segment is an exceptional business with strong leadership positions in the markets it serves. We believe the business will continue to thrive and serve its customers as they have come to expect, making the business a valued part of PEP’s portfolio.” Carl Bizon, Horizon Global President and Chief Executive Officer.