2022-08-08 | NYSE: HZN | Press release

Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and towing equipment, today announced that the company’s Board of Directors has authorized consideration of strategic alternatives to improve shareholder value. These strategic alternatives could involve the sale of part or all of the business.

“Our goal is to maximize shareholder value,” said John C. Kennedy, Chairman of the Board of Horizon Global. “We have received incoming interest in the company and, given this level of interest, the Board of Directors has made the decision to consider strategic alternatives. We believe there is significant value tied to our best products, our iconic brands and our deep customer relationships.”

The Company noted that there is no assurance that the Board’s review process will result in a settlement or other alternative. There is no fixed timeline for the strategic review process and Horizon Global does not intend to provide updates unless or until the Board approves a specific action or otherwise determines disclosure is appropriate or necessary.

Jefferies LLC is the financial advisor to Horizon Global.

About Horizon Global

Based in Plymouth, MI, Horizon Global is one of North America’s leading designers, manufacturers, and distributors of a wide variety of high-quality, custom towing, towing, cargo management, and other related accessories. North, Europe and Africa. The Company serves automotive original equipment manufacturers, retailers, dealer networks and the end consumer as a category leader in the automotive, leisure and agricultural market segments . Horizon provides its customers with exceptional products and services that reflect the company’s commitment to market leadership, innovation and operational excellence. The company’s mission is to use cutting-edge technology to develop and deliver premium products to our customers, interact with our employees, and create value for our shareholders.

Horizon Global manages a collection of regionally recognized brands in the towing and towing industry including: Draw-Tite, Reese, Westfalia, BULLDOG, Fulton and Tekonsha. Horizon Global has approximately 3,800 employees.

For more information, please visit www.horizonglobal.com.

Forward-looking statements

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made and reflect our current expectations or predictions of future events. These forward-looking statements can be identified by the use of forward-looking terms, such as “may,” “could,” “should,” “estimate,” “project,” “forecast,” “intent,” “expect,” “anticipate.” ,” “believe,” “target,” “plan” or other comparable terms, or through discussions of strategy which may involve risks and uncertainties.

These forward-looking statements are subject to numerous assumptions, risks and uncertainties that could have a material impact on our business, financial condition or future results, including, but not limited to, risks and uncertainties regarding: the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition and liquidity, including, without limitation, supply chain and logistics issues and pressures inflationary; interest rate volatility; the liabilities and restrictions imposed by the Company’s debt instruments, including the Company’s ability to comply with applicable financial covenants relating thereto or to obtain necessary modifications or waivers of such financial covenants ; market demand; competitive factors; supply constraints and shipping disruptions; material, logistics and energy costs, including increased material costs resulting from the COVID-19 pandemic; inflation and deflation rates; the impact of the conflict between Russia and Ukraine on our business, financial condition or future results, including the duration and scope of this conflict, its impact on disruptions and inefficiencies in our supply chain and our ability to source certain raw materials, as well as our energy supply in Europe; technological factors; dispute; governmental and regulatory actions, including the impact of any tariffs, quotas or surcharges; the Company’s accounting policies; future trends; general economic and monetary conditions, including recessionary conditions; various conditions specific to the business and industry of the Company; the success of the Company’s action plan, including the actual amount of savings and the timing thereof; the success of the company’s business improvement initiatives in Europe-Africa, including the amount and timing of savings; the Company’s exposure to product liability claims from customers and end users, and the costs associated therewith; factors affecting the Company’s business beyond its control, including natural disasters and extreme weather conditions (including those caused by climate change), pandemics, including the current COVID-19 pandemic, accidents and government actions; our ability to regain and remain in compliance with the New York Stock Exchange (“NYSE”;) minimum market capitalization requirement; and other risks which are discussed in Part I, Item 1A, “Risk Factors”. ” in the company’s annual report on Form 10-K for the twelve months ended December 31, 2021. The risks described in the company’s annual report on Form 10-K are not the only risks facing our company. Additional risks and uncertainties not currently known to us or that we currently believe to be immaterial may also materially adversely affect our business, financial condition and results of operations or cash flows.

The cautionary statements set forth above should be considered in any subsequent written or oral forward-looking statements that we or persons acting on our behalf may make. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We undertake no obligation to review or confirm analysts’ expectations or estimates or to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unforeseen events. , unless otherwise required by law.

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