KKR, a leading global investment firm, has announced the signing of an agreement to sell Minnesota Rubber and Plastics, a leading provider of materials science-based elastomer and thermoplastic solutions, to Trelleborg Group, a leader in engineered polymer solutions, in a transaction valued at approximately $950 million.
Since KKR’s acquisition in November 2018 and the introduction of a broad-based employee ownership program, MRP has made significant progress in driving growth and operational excellence. KKR’s investments in the business – including constructing a new global innovation center, optimizing manufacturing facilities and investing in state-of-the-art equipment – contributed to significant improvements in safety, input materials waste reduction, speed of new product delivery and earnings growth. Under KKR’s ownership, MRP has completed acquisitions adding complementary new capabilities in the US and UK and awarding shared ownership to all employees of the acquired businesses.
The transaction, which is subject to customary regulatory approvals, is expected to close before year-end 2022.
To learn more, visit www.mnrubber.com or www.kkr.com.