First Brands completed the acquisition of Horizon Global for $408m.

First Brands, a manufacturer and distributor of windshield wiper products, completed the acquisition of Horizon Global, a firm that designs, manufactures and distributes towing, trailering, cargo management and related products, for $408m. “The transaction represents the culmination of a thorough review of strategic alternatives announced in August and represents what we believe is the best outcome for our customers, suppliers, shareholders and employees. After consideration of a number of different alternatives, the Board believes this transaction is the best path forward for shareholders to address Horizon Global’s capital needs while supporting the long-term growth and sustainability of Horizon Global’s business. Our management team and employees of Horizon Global are committed to delivering innovative, high-quality towing and trailering products, and this transaction provides the resources needed to deliver on that commitment," John C. Kennedy, Horizon Global’s Interim CEO and Board Chair.