Valley Towing Product's management team purchased Valley Towing Systems from former parent company Thule. The purchasing entity is named GRLC LLC and will continue its marketing efforts under the name Valley Towing.
The primary investors include George Caplea, CEO and president; Richard Marsden, CFO; Larry Fisher, vice president of sales and marketing; Chris Fudala, vice president of engineering and Brian Rishell, vice president of global sourcing and purchasing.
Terms of the deal were not disclosed.
"While the details of the deal remain private, the terms are very favorable for Valley management," the management team said in a statement. "This acquisition provides a solid platform for Valley to move forward rapidly in its quest to increase share in the towing aftermarket."
Growth plans revolve around joining forces with customer partners, as Valley has no desire to act as a distributor or compete with customers, the company said.