Minnesota Rubber and Plastics (MRP) acquires Pawling Engineered Products, a New York-based manufacturer of custom inflatable elastomer seals and extruded products.
Pawling, headquartered in the city of the same name, produces sophisticated elastomer products such as inflatable seals and clamps, custom compression seals, gaskets, hoses, extrusion and other makes of elastomer, according to MRP.
“This is a 75 year old company that focuses on materials science and then on highly specialized custom elastomer solutions for mission critical applications. That basically fits perfectly with the types of companies we wanted to participate in, ”Dave Furlong, MRP’s global vice president of sales and marketing, said in an interview. “From that point of view, it was a very good fit.”
He cited both the aerospace and nuclear industries as examples of two markets Pawling serves that require precision products that cannot fail.
“We are excited to add Pawling, a company with a 75 year history of providing unique, highly specialized elastomer solutions for business critical applications, to our family and believe in their commitment to superior in-house product design and custom material formulation is highly complementary to the MRP’s capabilities, “MRP CEO Jay Ward said in a statement.
“Innovation is at the heart of everything we do, and this acquisition comes at an important time in our history as we expand and invest in technology that offers very differentiated value to our customers,” he added.
Pawling President Craig Busby will continue to lead this part of the company.
“The potential synergies between the two companies are endless and will allow us to become a better partner for all of our stakeholders. We are ready to take this next step, ”Busby said in a statement.
Ward said the company’s cultures are “perfectly aligned” and recognize employee dedication and innovation.
“We’re not just getting great products and intellectual property, we’re adding a great team. We plan to expand ownership to any new colleagues we welcome to Pawling, ”he said.
Pawling has been in business since 1946 and includes the Pneuma-Seal line of inflatable seals, clamps and actuators. Further products are customer-specific elastomer and plastic products, silicone tubes and septa and sealing films from the Cepure brand for the laboratory sector.
MRP is based in Minneapolis. The company deals with the development of material compounds as well as the development, design and manufacture of customer-specific rubber and thermoplastic components and assemblies.
MRP sees the deal as an opportunity not only to expand its product portfolio, but also to adopt rubber processing technologies that the company has not used in the past, Furlong said.
“Minnesota Rubber and Plastics is keen to continue improving our overall product offering for our customers. We’re also looking for interesting ways to grow organically or inorganically [through acquisitions],” he said.
Pawling primarily uses extrusion to make its rubber parts, while MRP has used injection molding, compression, and transfer molding in the past, Furlong said.
“The addition of extrusion capacities opens additional doors for additional product groups and solutions. Certain types of products cannot be effectively injection molded or compression molded not only from a performance point of view but also from a cost point of view, ”he said. “Adding these additional capabilities expands our market even further.”
Because the companies’ customer bases did not overlap prior to the acquisition, MRP sees the opportunity to sell new products from both sides of the combined business in each other’s markets.
“This is an improvement on the product line, another tool in our toolbox as we enter the market as elastomer leaders in the areas we do business today,” said Furlong.
The terms of the deal were not disclosed.
The vice president said Pawling had about 150 employees working in a 50,000 square foot facility. Before the purchase, MRP employed around 1,200 people. There are no plans to make changes to employment tiers, but Furlong said the company expects to save some money from the combined operations’ increased purchasing power.
MRP Adds Pawling to Its Existing Litchfield, Minnesota Locations; Mason City, Iowa; River Falls, Wisconsin; Reynosa, Mexico; Jiangsu, China; and Pacy-sur-Eure, France.