Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Sign Up Free
  • Login
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • K Show
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • Processor of the Year
    • Best Places to Work
    • Women Breaking the Mold
    • Rising Stars
    • Diversity
    • Most Interesting Social Media Accounts in Plastics
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • Pellets and Politics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • PN Live: Mergers and Acquisitions
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Resin Prices
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
News
August 02, 2022 12:40 PM

Trelleborg to buy Minnesota Rubber and Plastics for $950M

Andrew Schunk
Rubber News Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Copy of Trelleborg_i.jpg
    Trelleborg AB

    Trelleborg AB has agreed to purchase Minnesota Rubber and Plastics in a deal worth approximately $950 million

    In a move intended to expand its North American footprint in several business areas, Sweden-based Trelleborg AB will purchase Minnesota Rubber and Plastics in a deal worth approximately $950 million.

    The cash and debt-free deal — announced Aug. 2 — is expected to be finalized by the end of this year.

    "This is a step change for Trelleborg Sealing Solutions," said Peter Nillson, president and CEO of Trelleborg Group. "The business area will be as strong in North America as its already established position in Europe."

    Nillson said in an Aug. 2 news conference that MRP complements and strengthens Trelleborg Sealing Solutions' position in the rubber product space, especially as it relates to medical, food, beverage and water-related polymer and thermoplastic components.

    MRP, the operating name for Quadion LLC, has liquid silicone rubber molding, injection molding of plastics, rubber molding, overmolding, assembly and other services.

    "The company is a very good fit with our own business within precision seals, and the transaction is expected to generate significant synergies in terms of lower costs and higher production efficiency," Nillson said.

    Conversely, MRP will be able to leverage Trelleborg's global sales channels and "offer a wider range of seals to its existing customer base."

    "All in all, this is expected to lead to extensive cross-selling opportunities," Nilsson said.

    The MPR acquisition follows a deal announced earlier this year by Trelleborg to buy EirMed LLC, a Menomonie, Wis.-based medical injection molder. The Trelleborg, Sweden-based company has also invested in new prototyping capabiltiies.

    Trelleborg signaled its plans to grow in North America through acquisition earlier this year when it named Heather Castleman as director of mergers and acquisitions for its Americas region.

    Minnesota Rubber and Plastics
    Minnesota Rubber and Plastics recently opened a $6 million innovation center near its headquarters outside of Minneapolis.

    MRP saw sales of about $262.2 million in 2021, according to Trelleborg.

    Plymouth, Minn.-based MRP, with approximately 1,450 employees across four states and six countries, is owned by global private equity firm KKR, the seller in the transaction.

    "Today's announcement is the culmination of a lot of hard work by our dedicated employees ... and KKR's shared ownership model has allowed all MRP colleagues to share in this success," said MRP CEO Jay Ward. "Joining Trelleborg is an exciting opportunity to expand our global reach while we continue to fulfill our commitments to delivering excellence and innovation for our customers."

    KKR offers an employee ownership program at MRP, and MRP employees will receive cash payouts upon the transaction closing with Trelleborg, with amounts varying based on tenure and employment status. As part of the transaction, employees will receive pre-paid personal financial coaching and tax preparation services.

    All MRP employees are expected to be retained, Trelleborg said.

    Founded in 1945, MRP has kept its ear to the merger and acquisition rail throughout its history, analyzing opportunities as they present themselves.

    The company acquired Primasil Silicones in March and Pawling Engineered Products of New York in June 2021, giving the company a greater presence in the inflatable seal and extruded solutions space.

    MRP also recently opened a $6 million innovation center near its headquarters outside of Minneapolis.

    "Minnesota Rubber and Plastics is well-known to us for being an innovative and customer-oriented company," said Peter Hahn, president of Trelleborg Sealing Solutions. "The company's new state-of-the-art innovation center enables accelerated product development and strengthens us in research and development and areas such as health care and medical."

    This is the first significant step taken by Trelleborg since it announced in March it had reached a deal to sell its Trelleborg Wheel Systems unit to Yokohama Rubber Co. Ltd. Trelleborg said at the time it would look to build its Trelleborg Sealing Solutions and Trelleborg Industrial Solutions businesses through acquisitions in health care and medical; aerospace and defense; and automotive, especially in electric vehicles.

    For more on the acquisition, see the Aug. 8 issue of Rubber News or visit www.rubbernews.com.

    RECOMMENDED FOR YOU
    Industry sees Biden bioplastics goal as serious signal
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    Biden sets US goal to replace 90% of plastics with biomaterials
    2
    Industry sees Biden bioplastics goal as serious signal
    3
    Report urges treaty to regulate plastics like pharmaceuticals, limit growth
    4
    One injured in explosion at Ineos cumene plant in Texas
    5
    Engineering resin prices close the first quarter with a drop
    SIGN UP FOR OUR FREE NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Tire Business
    • Urethanes Technology
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • K Show
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • Processor of the Year
        • Best Places to Work
        • Women Breaking the Mold
        • Rising Stars
        • Diversity
        • Most Interesting Social Media Accounts in Plastics
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • Pellets and Politics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • PN Live: Mergers and Acquisitions
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Resin Prices
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified