fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Mergers & Acquisitions

Trelleborg acquires KKR’s Minnesota Rubber and Plastics in all-cash deal worth USD1 billion

Trelleborg finalizes acquisition in all-cash deal

Sunil Bolar by Sunil Bolar
August 3, 2022
in Mergers & Acquisitions, The Global Economics, Top Stories
Reading Time: 2 mins read
0
Trelleborg acquires KKR’s Minnesota Rubber and Plastics in all-cash deal worth USD1 billion

Trelleborg acquires KKR’s Minnesota Rubber and Plastics in all-cash deal worth USD1 billion

32
SHARES
179
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Trelleborg AB, the Swedish engineering firm, has agreed to acquire KKR-owned Minnesota Rubber and Plastics in a cash deal valued at USD1 Billion, according to a statement released by the two companies.

Private equity firm KKR had acquired Minnesota Rubber and Plastics from another private equity firm, Norwest Equity Partners in 2018. 

The deal between Trelleborg and KKR’s Minnesota Rubber and Plastics, is expected to enhance the former’s North American plastics and polymers business, and is expected to complete before the end of this year.

According to sources familiar with the deal, KKR is expected to gain over three times its original investment from the transaction.

Founded in 1941, Minnesota Rubber and Plastics produces high-grade plastic components that are utilised in telecommunication equipment, cars, and medical devices. The company has manufacturing facilities in North America, Asia and Europe.

According to Josh Weisenbeck, Head of Industrials at KKR, over 1,300 employees of Minnesota Rubber and Plastics who are not part of the management team, will receive on average one year’s worth of their annual salaries when the deal closes later this year.

The employees at Minnesota Rubber and Plastics are part of KKR’s ESOP (Employee Stock Ownership Program), and the money will be paid to them to sell their stakes in the company to Trelleborg. The ESOP program offered by KKR allows employees the option of owning equity in addition to the wages earned by them.

Weisenbeck noted that this program not just assists employees, but is also good for communities, companies, shareholders, and investors too.

Under the ownership of KKR, Minnesota Rubber and Plastics has acquired other smaller rivals. In 2021, it acquired Pawling Engineered Products, a plastics firm based in Pawling, New York. It also purchased Britain’s Primasil Silicones in May this year.

Trelleborg has a market cap of USD6 Billion

Trelleborg, listed on the Stockholm Stock Exchange, produces high-end plastics and polymer products that are utilised by companies spanning the oil, gas, construction and aviation sectors. The company has a market capitalization of almost USD6 billion.

Trelleborg’s acquisition of Minnesota Rubber and Plastics coincides with the company’s shares trading at an all-time high. Earlier this year, Trelleborg had finalised a deal to sell its agricultural and industrial machinery tyre division to Yokohama Rubber Co for USD2.18 billion. The deal provided the company with sufficient capital for more acquisitions and share buybacks.

 

Via: short URL
Tags: KKRM&AMinnesota Rubber and PlasticsTrelleborg
Sunil Bolar

Sunil Bolar

Sunil is a creative person who combines his love for writing with tech and business.

Related Posts

Sri Lanka: IMF approves $3 billion bailout for a crisis-stricken economy
Economy

Sri Lanka: IMF approves $3 billion bailout for a crisis-stricken economy

by Riya Thomas
March 21, 2023
First Republic Shares Plummet Amid Liquidity Fears
Banking

First Republic Shares Plummet Amid Liquidity Fears

by Anuj Singh
March 21, 2023
Amazon Announces Second Round of Layoffs, 9000 Roles to be Terminated
Technology

Amazon Announces Second Round of Layoffs, 9000 Roles to be Terminated

by Rahil Adnan
March 21, 2023
UEM Edgenta Paves the Way for Non-Clinical Tech Companies To Improve Healthcare Services
Exclusive Coverage

UEM Edgenta Paves the Way for Non-Clinical Tech Companies To Improve Healthcare Services

by The Global Economics
March 21, 2023
Saudi Real Estate Refinance Company (SRC) mulls its largest refining deal worth $1.3bn with Alrajhi
Islamic

Saudi Real Estate Refinance Company (SRC) mulls its largest refining deal worth $1.3bn with Alrajhi

by Riya Thomas
March 20, 2023
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

First Republic Shares Plummet Amid Liquidity Fears

First Republic Shares Plummet Amid Liquidity Fears

March 21, 2023
Sri Lanka: IMF approves $3 billion bailout for a crisis-stricken economy

Sri Lanka: IMF approves $3 billion bailout for a crisis-stricken economy

March 21, 2023
Amazon Announces Second Round of Layoffs, 9000 Roles to be Terminated

Amazon Announces Second Round of Layoffs, 9000 Roles to be Terminated

March 21, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version