Financial terms were not disclosed.
Mr. Rizzi, formerly an executive with JSJ Corp., was hired earlier this year to succeed OTR Wheel founder and former CEO Fred Taylor, who will stay involved with OTR as chairman of the board. Prior to his time at JSJ, he was president and CEO of Pettibone L.L.C. — a unit of Heico Companies — and held executive roles at Barnes Group Inc. and Gerber Scientific Inc.
According to OTR Internatinoal, Mr. Rizzi will oversee OTR Wheel Engineering's ongoing integration of companies acquired over the last several years; strategic plans for global expansion; and future acquisitions in support of OTR's vision to enhance and evolve its position as a leader in off-the-road mobility and logistics solutions for OEM and aftermarket customers.
Founded in 1967, Hoosier Wheel provides pneumatic and semi-pneumatic tire/wheel assemblies to leading OE manufacturers. The company has assembly sites in Grayville, Ill, and Tomah, Wis., as well as at its headquarters in Evansville.
Hoosier Wheel is OTR International's second acquisition this year. Earlier it took over TransAmerican Rubber Inc.,a Littleton, Colo.-based producer of inner tubes and tire valves, predominantly for heavy-duty and/or off-road applications.
In 2020, it acquired SolidBoss Worldwide Inc., the Rome, Ga.-based producer of solid and semi-pneumatic tires and rubber tracks.
OTR International has grown over the years into a global supplier of wheels and tire/wheel assemblies, with manufacturing/assembly plants in China, Thailand, Sri Lanka, England, Canada and the U.S.