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The ArvinMeritor building
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ArvinMeritor purchased by Open Gate
OpenGate Capital, a global private equity firm with headquarters in Los Angeles, has acquired Gabriel North America (NA), a leading provider of shock absorbers and strut assemblies, from ArvinMeritor.
Gabriel NA maintains manufacturing, warehouse, sales and management offices throughout North America including Chickasha; Detroit, Mich.; Chickasha, Oklahoma; Brentwood, Tenn. and Queretaro, Mexico. The company generates nearly $200 million of sales and has over 1,300 employees in the U.S., Canada and Mexico serving over 600 customer accounts.
At its peak early in the decade, ArvinMeritor employed more than 1,000 people in Chickasha but moved its production operations almost three years ago, maintaining a warehouse and distribution center here.
The company has reportedly moved some of its plating operations back to Chickasha after closing a plant in Toronto. There are approximately 200 people currently working at the local facility.
Chickasha City Manager Larry Shelton said Wednesday that city and EDC officials have had discussions with OpenGate Capital executives about the Chickasha plant.
"We have talked with the new owners and we are doing everything we can do to facilitate the growth of their business in Chickasha," Shelton said.
The acquisition is OpenGate’s first venture into the automotive sector.
For this investment, OpenGate officials said they are partnering with Gabriel North America’s management team to complete a transformation of the business.
“OpenGate is uncovering attractive niche investment opportunities in fragmented and rapidly changing industries,” said OpenGate’s Founder and Managing Partner Andrew Nikou in a company news release.
By bringing additional expertise and resources to businesses in transition such as Gabriel NA, we maximize brand equity, product technology and customer relationships to produce excellent results for our investors. OpenGate will leverage Gabriel NA’s infrastructure to aggressively pursue other acquisitions in the motor vehicle market.
Gabriel is one of the most widely recognized brands in the North American automotive and commercial vehicle aftermarket and supplies most of its products through a diverse and well-known customer base.
The company is also a leading supplier of shocks to North American commercial, industrial and recreational vehicle manufacturers.
In transforming the business, the management team and OpenGate will work to optimize manufacturing, expand product range, and broaden the range of niche applications for its products, the press release stated.
"OpenGate brings valuable resources and ideas to our company,” Linda J. Bahash, president of Gabriel NA, said. “Aligning with such a top-tier private equity firm is a very positive step in Gabriel's long history. We look forward to working closely with OpenGate to unleash value for Gabriel NA and all of its stakeholders. We agree that the opportunities in the aftermarket segment, which offers many pockets of growth, are especially exciting."
Terms of the transaction were not disclosed.
A spokesperson for ArvinMeritor did not return a phone message left for her Wednesday morning.
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Transformations
What comes to mind when you think of the word, “Transformation”?Do you have fantastic thoughts of people or things changing into something amazing for example, Clark Kent turning into Superman or Bruce Banner becoming the Incredible Hulk or possibly something a little more down to earth like a caterpillar miraculously changing into the beautiful butterfly?
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GRADY COUNTY FAIR RESULTS
Plants
Potted Plants
(Several varieties combined)
First: (Adult) Ann O'Bar
Second: (Adult) Joyce Riker
Third: (Adult) Jallane Link -
AROUND THE AREA
SEPTEMBER 2
Poetry Reading
• When: Sept. 2, 7 p.m.
• Where: Eduardo’s Mexican Restaurant, Private Room, 3127 S. 4th St., Chickasha
• Details: Featured Poet is Carol Hamilton, writer, storyteller and Poet Laureate of Oklahoma 1995-97Hamilton’s website is www.carolhamilton.org. There is no admission fee to attend the Poetry Reading, and refreshments are available for purchase. For more information, contact Rockford Johnson, 224-0160 or 317-7506. -
Duncan nips Chicks for straight-game win
Duncan got their eighth match win of the season Tuesday, beating Nancy Waters’ Lady Chicks in straight games at the Activity Center.
The Chicks looked like they had a little hangover from Monday night’s tough road loss at Tecumseh, coming out flat again and dropping their first two games by identical 25-17 scores.
They came out firing on all eight cylinders for game three, running out to a 15-9 lead on the strength of a 7-0 run with Shelby Crosley serving, but the Demons battled back to tie it late and the Chicks let it slip away, 25-21. -
STATE SPORTS BRIEFS
NORMAN (AP) — Oklahoma coach Bob Stoops has named walk-on Patrick O'Hara as the starting place-kicker for the seventh-ranked Sooners.
Stoops said on his radio show Tuesday night that O'Hara won the competition with Jimmy Stevens, freshman Michael Hunnicutt and redshirt freshman Bryce Easley. -
OSU's Gundy still learning on job
STILLWATER (AP) — Mike Gundy hasn't lost his love for dialing up the right play to keep Oklahoma State's offense purring along.
That passion, which he has called the most enjoyable part of his job as head coach, was bred into him as an offensive coordinator. And he is a former starting quarterback for the Cowboys. -
Whimsical metal work, jewelry part of big art show at USAO
A showing of whimsical metal work and jewelry is scheduled to be on display at the University of Science and Arts of Oklahoma during Helen’s Show Sept. 10-Oct 1.
The show will feature the work of USAO graduate Helen Shafer. The exhibition will be open daily during normal business hours in the Davis Hall Third Floor Art Gallery on the USAO campus. The show is free and open to the public. An opening reception is scheduled Sept. 10 at 6 p.m. in the gallery. -
High-speed chase lands 1 in jail
A high-speed motorcycle chase down Highway 81 last Wednesday landed a Ninnekah man in jail and a felony charge of eluding a police officer.
Court records show that James William Hutchins, 21, blew by Oklahoma Highway Patrol Trooper Timothy Parrish at U.S. Highway 81 and County Road 1460 and was clocked going 144 miles per hour in a posted 70 miles per hour zone.
Parrish reported that he was sitting stationary at that location at about 3:45 p.m. on Aug. 25 when he observed a red motorcycle traveling southbound. He engaged his emergency lights and siren and pulled onto the roadway behind the Triumph motorcycle. -
5 inmates denied parole
Parole was recently denied for five Grady County inmates serving sentences with the Oklahoma Department of Corrections.
The following individuals were denied at the August Pardon and Parole Board meeting:
• Jeremiah Daniel Cline, who is serving a five-year sentence for distribution of a controlled dangerous substance and a five-year sentence for possession of a controlled dangerous substance, began his sentence in August 2008.
• Warren P. Diego, who is serving a 15-year sentence (10 years PTS) for lewd molestation, began his sentence in February 2009. -
Judge recuses herself from pharmacy case
OKLAHOMA CITY (AP) — A state district judge has stepped aside from the first-degree murder trial of a pharmacist accused in the fatal shooting of an unconscious would-be robber.
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Transformations
