Pleasanton, Calif. — Boyd Corp. continues to pick up speed on the acquisition trail, making its second acquisition in just six weeks. Both moves, Boyd said, are part of a strategy to grow its global footprint and deepen its expertise and capabilities across a variety of materials and solutions in the rubber and plastics industries.
With its Dec. 1 acquisition of Nivelles, Belgium-based Grando SA, Boyd expands its expertise in rubber, foam and plastic polymer sciences, taking on a business that is dedicated to serving the rail and industrial industries.
The move not only diversifies the company's materials portfolio, it deepens Boyd's European roots, allowing it to expand its market presence in France, Italy and Spain as well as Belgium. It also helps to solidify its place in key growth markets such as e-mobility and renewable energy.
"Grando's polymer scientists and converting technologists expand Boyd's elastomer innovation capability while adding capacity and regional service for our European customers," Boyd CEO Doug Britt said in a statement. "We're accelerating our innovation in high-growth markets like e-mobility, renewable energy, battery storage and industrial technology. Additional expertise and capability from Grando will further accelerate this innovation while expanding regionally."
Boyd's purchase of Grando follow's the company's Oct. 20 acquisition of Siltec, a silicone compounding and custom products specialist based in Weiler, Germany.
Boyd did not disclose the terms of either acquisition.
In an October news release detailing the Siltec purchase, Boyd noted that the deal boosts and diversifies its expertise and capabilities across high-growth market segments, particularly those related to e-mobility and data storage.
"Siltec's dedicated team of scientists and technologists enhance Boyd competencies in silicone material science and the medical industry," Britt said. "We'll leverage this expertise to accelerate innovation across Boyd's material portfolio and adjacent high growth markets like industrial technology, e-mobility and a cloud data center where customers need high temperature resistant and durable solutions."
Siltec's portfolio includes silicone tubing, molded parts, profiles, seals, O-rings, sheeting and assembled products.
The two acquisitions are among three Boyd has made in the last six months. Boyd also purchased Seattle-based GMN, which provides human-machine interface solutions (backlit membranes, sensors and capacitive touch devices); graphic overlays; optical encoders for precision controls; printed critical interface materials for touchscreens; and positive temperature coefficient heaters.
Pleasanton-based Boyd bills itself as "a world-leading innovator of technologies in material science, engineered materials, and thermal management that seal, protect, interface with, and cool our customers' most critical applications." The company operates more than 40 sites across North American, Asia and Europe.