Pleasanton, Calif. — Goldman Sachs has purchased Boyd Corp., an extruder of custom fabricated seals and gaskets, the companies announced July 11.
San Francisco-based private equity firm Genstar Capital had owned Boyd for three years. Terms were not disclosed.
Boyd, an 85-year-old company based in Pleasanton, makes extruded and die-cut seals from a variety of materials including plastics and engineered rubber.
Boyd President and CEO Mitch Aiello said in a news release that the Goldman Sachs Merchant Banking division "is an ideal partner whose expertise and resources will help Boyd continue to drive growth and value creation through a dedication to solving our customers' most challenging thermal management and environmental sealing needs."
He added that Boyd completed three acquisitions when it was owned by Genstar Capital, allowing it to expand geographically and enter new end markets.
Boyd has 15 domestic manufacturing operations and foreign entities in China, India, Italy, South Korea, Thailand, Germany, Taiwan, England and Vietnam.