Rogers Corp. has sold a unit making plastic laminates to investment firm CriticalPoint Capital LLC of El Segundo, Calif.
Rogers, Conn.-based Rogers announced the deal on Dec. 21 but included few details in a news release. A company spokesman said more details would be released in late February.
No purchase price was disclosed. The unit being sold makes polyimide and thermoset epoxy laminate products at a plant in Rancho Cucamonga, Calif. The business had sales of almost $15 million in the first nine months of 2015.
The unit will be renamed Arlon EMD, CriticalPoint officials said in a Dec. 22 news release. They described the business as a leading manufacturer of specialty, high-performance laminate and prepreg materials used in the construction of printed circuit boards for a wide variety of applications.
Arlon EMD sells into markets ranging from military and commercial avionics to industrial and semiconductor testing, officials added. "This acquisition gives our firm a strong foothold in the electronics industry," CriticalPoint founder and CEO Matt Young said in the release.
Rogers, Conn.-based Rogers acquired the business as part of its January 2015 purchase of Arlon LLC. Rogers paid $157 million for Arlon, a maker of circuit material and engineered silicones.
Rogers is a maker of urethane foams, fluoropolymer laminates and thermoplastic circuit materials. The firm posted sales of almost $490 million in the first nine months of 2015, up more than 5 percent vs. the same period in 2014.
CriticalPoint Capital has made three acquisitions since being founded in 2013. The firm previously acquired two apparel businesses.