Minnesota Rubber and Plastics — maker of engineered elastomers and thermoplastics for the medical, water and industrial markets — announced today that it has acquired Pawling, N.Y.–based Pawling Engineered Products.
The financial terms of the deal were not disclosed.
“We’re thrilled to add Pawling, a company with a 75-year history of supplying unique, highly specialized elastomer solutions for mission-critical applications, to our family, and believe their dedication to superior in-house product design and custom materials formulation is highly complementary to MRP’s capabilities,” said Jay Ward, CEO of Minnesota Rubber and Plastics. “Innovation is at the heart of what we do, and this acquisition comes at an important time in our company’s history, as we’re set to expand and invest in technologies that drive highly differentiated value for our customers.”
Pawling’s products include inflatable seals and clamps, custom compression seals, gaskets, tubing, extrusion, and other elastomeric fabrications designed for critical and demanding applications.
Craig Busby will continue to lead Pawling, reporting into the MRP organization. “The potential synergies between the two companies are endless and will allow us to become a better partner for all our stakeholders. We are ready to take this next step,” Busby said.
Ballard Spahr served as advisors to MRP, while Holland and Knight LLP served as advisors to Pawling.
Minnesota Rubber and Plastics, headquartered north of Minneapolis in Plymouth, is incorporated under the name Quadion.