{"id":32908,"date":"2022-08-23T11:50:40","date_gmt":"2022-08-23T09:50:40","guid":{"rendered":"https:\/\/php8.plastv.de\/?p=32908"},"modified":"2022-08-23T11:50:40","modified_gmt":"2022-08-23T09:50:40","slug":"trelleborg-to-acquire-minnesota-rubber-plastics","status":"publish","type":"post","link":"https:\/\/plas.tv\/?p=32908","title":{"rendered":"Trelleborg to acquire Minnesota Rubber & Plastics"},"content":{"rendered":"


<\/span>
Trelleborg Group has<\/span> signed an agreement to acquire the<\/span> US<\/span>–<\/span>based company<\/span>,<\/span><\/span> Minnesota Rubber &<\/span>
Plastics<\/span>,<\/span> for<\/span> USD 950<\/span> million<\/span> (<\/span>approximately SEK 9.5 billion<\/span>)<\/span><\/span> on a cash and debt free basis<\/span>.<\/span> If a tax<\/span>
asset of approximately SEK 900 million is taken into account, the purchase price amounts to<\/span>
approximately SEK 8.6 billion.<\/span> Trelleborg<\/span> has<\/span> secured c<\/span>ommitted financing<\/span>.<\/span> T<\/span>he seller<\/span> is<\/span> an affiliate<\/span>
of<\/span> t<\/span>he global investment fi<\/span>rm<\/span> KKR<\/span><\/span>.<\/span><\/span><\/span>
Minnesota Rubber & Plastics<\/span> is a<\/span> strong<\/span> and well<\/span>–<\/span>established<\/span> company<\/span> in North America<\/span> operating<\/span>
in several fast<\/span>–<\/span>growing industries such as medical equipment, water management<\/span> and<\/span> food<\/span> &<\/span>
beverage<\/span>, as well as in several industrial applications. The company is a leading manufacturer of<\/span>
polymer and thermoplastic components and<\/span> a<\/span> system<\/span> provider<\/span> for technically demanding<\/span>
applications.<\/span><\/span><\/span>
\u201c<\/span>This is a step<\/span> change for Trelleborg Sealing Solutions<\/span>.<\/span> The<\/span> business area<\/span> will be as strong<\/span> in North<\/span>
America as<\/span> its<\/span> already established<\/span> position<\/span> i<\/span>n<\/span> Europe,<\/span>\u201d<\/span> says<\/span> Peter Nilsson, President and CEO of<\/span>
Trelleborg Group<\/span>.<\/span><\/span><\/span>
\u201c<\/span>Minnesota Rubber & Plastics complements and strengthens Trelleborg’s<\/span> current<\/span> position and<\/span>
product offering<\/span> in a number of fast<\/span>–<\/span>growing industries. The<\/span> company<\/span> is<\/span> a very good fit with<\/span> our own<\/span>
business<\/span> with<\/span>in precision seals, and the<\/span> transaction<\/span> is expected<\/span> to generate significant synergies in<\/span>
terms of lower costs and higher production efficiency. Minnesota Rubber & Plastics<\/span> will<\/span> gain<\/span> access<\/span>
to Trelleborg’s global sales channels<\/span>,<\/span> and<\/span> it<\/span> will be able<\/span> to<\/span> offer our wider range of seals to<\/span> its<\/span>
existing customer base in North America. All in all, this is expected to lead to extensive<\/span> cross<\/span>–<\/span>selling<\/span>
opportunities<\/span>,<\/span>\u201d<\/span> continues Peter Nilsson<\/span>.<\/span><\/span><\/span>
\u201c<\/span>Minnesota Rubber & Plastics<\/span> is well<\/span>–<\/span>known to us<\/span> for being an innovati<\/span>ve and customer<\/span>–<\/span>oriented<\/span>
company.<\/span> The<\/span> acquisition<\/span> makes us the natural development partner for sealing solutions for both<\/span>
local and global customers.<\/span> T<\/span>he<\/span> company’s new state<\/span>–<\/span>of<\/span>–<\/span>the<\/span>–<\/span>art innovation center enables<\/span>
accelerated product<\/span> development<\/span> and<\/span> strengthens us in<\/span> R&D and<\/span> areas such as<\/span> healthcare &<\/span>
medical<\/span>,\u201d says Peter Hahn,<\/span><\/span> President of the<\/span> Trelle<\/span>borg Sealing Solutions business area<\/span><\/span>.<\/span><\/span><\/span><\/span>
Minnesota<\/span> Rubber & Plastics was founded in 1945 and has a<\/span>nnual sales<\/span> of approximately<\/span>
SEK 2,250<\/span> M<\/span> with good profitability and<\/span> strong sales<\/span> growth. The company has its headquarters and<\/span>
innovation center outside of Minneapolis, Minnesota, US, and has a total of<\/span> eight<\/span> manufacturing<\/span>
facilities<\/span> globally, of which<\/span> f<\/span>our<\/span> are in the US and<\/span> the remainder<\/span> in Mexico, England, the Czech<\/span>
Republic and China.<\/span><\/span><\/span>
\u201c<\/span>Initially, the EBITA margin<\/span> of Trelleborg Sealing Solutions<\/span> will be slightly diluted.<\/span> However, a<\/span>s we<\/span>
extract synergies, the business area’s EBITA margin is estimated to be back at its current level<\/span>
within a couple of years. We therefore expect that the acquisition multiple will gradually drop to<\/span>
approximately<\/span> 10<\/span>x EBITDA including synergies. We have a<\/span> very good history when it comes to<\/span>
value<\/span>–<\/span>creating acquisitions within Trelleborg Sealing Solutions,<\/span>\u201d<\/span> concludes Peter Nilsson.<\/span><\/span><\/span>
The transaction is expected to be finalized<\/span> before year<\/span>–<\/span>end<\/span> 202<\/span>2<\/span>.<\/span><\/span><\/span><\/span>

\n<\/span><\/span><\/span><\/span><\/span><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Trelleborg Group has signed an agreement to acquire the US-based company, Minnesota Rubber &Plastics, for USD 950 million…<\/p>\n","protected":false},"author":2,"featured_media":18045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,16],"tags":[],"series":[],"class_list":["post-32908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-plas-tv-meldungen-auf-der-startseite-unterhalb-slider","category-plast-tv-textmeldungen"],"_links":{"self":[{"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/posts\/32908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32908"}],"version-history":[{"count":1,"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/posts\/32908\/revisions"}],"predecessor-version":[{"id":32909,"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/posts\/32908\/revisions\/32909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=\/wp\/v2\/media\/18045"}],"wp:attachment":[{"href":"https:\/\/plas.tv\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32908"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/plas.tv\/index.php?rest_route=%2Fwp%2Fv2%2Fseries&post=32908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}