By: RUBBER & PLASTICS NEWS STAFF
April 12, 2013
KING OF PRUSSIA, Pa.—Tekni-Plex Inc. said it has sold its Swan Hose business to Jacobson Partners, a New York-based private equity firm, for an undisclosed amount.
Tekni-Plex said it has been pleased with the recent performance of Swan and has "effected this sale to allow us to focus on our core health care, food packaging and specialty segments," according to Paul Young, Tekni-Plex president and CEO. The company will use the sale proceeds to reduce debt.
Swan's history goes back more than 80 years. It develops and makes high-quality consumer and industrial hoses marketed to home improvement and mass merchant retailers. Its product lines include garden, specialty and industrial hoses marketed under the Swan, WaterWorks, Element and Aero-Tube brands. It also sells hose on a private label basis.
Tekni-Plex bought the Swan business in 2001 from Mark IV Industries Inc.