DELANO, MN – Trelleborg Sealing Solutions has signed an agreement to acquire Sil-Pro, Inc. from Precision Associates, Inc. and Kevin Carver. No financial details have been disclosed regarding the deal, which is expected to be finalized in the first quarter of 2019, pending regulatory approval.
“Today’s agreement represents the culmination of 18 wonderful years of prosperous partnership among the Kadue and Carver families and our hundreds of dedicated and talented employees,” PAI President Bradley Kadue said in a statement shared by Rubber & Plastic News. “The team at Sil-Pro has built a phenomenal business over that time, and we are proud to have played a part in that success. We are pleased to have partnered with such a capable and ethical company as Trelleborg. We know that Sil-Pro and its employees will be a marvelous complement to its operations.”
A Trelleborg press release states, “The acquisition complements and broadens Trelleborg’s current offering in the healthcare and medical industry . . . This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.”
In a statement, Peter Hahn, president of the Trelleborg Sealing Solutions business area, added, “This acquisition complements our existing offerings and expands our product range in such areas as drug delivery and surgery tools. The company is well reputed with first-rate quality systems and clean-room standards. Its expertise and capacity within tool-making is a welcome addition to our current operation.”
Trelleborg has locations in 31 different countries, and the Delano location will be its 17th in the US.
According to the Trelleborg Sealing and Solutions website, “Trelleborg is a world leader in engineered polymer solutions that seal, damp, and protect critical applications in demanding environments. Its innovative solutions accelerate performance for customers in a sustainable way.”
In addition, the Trelleborg Group, comprised of five business areas, has annual sales of $3.6 billion in more than 40 countries, according to the website.