KKR is 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 $950m.
KKR’s investments in the business – including constructing a new global innovation center, optimizing manufacturing facilities, and investing in state-of-the-art new equipment – contributed to significant improvements in safety, input materials waste reduction, speed of new product delivery, and earnings growth.
MRP’s global employee base is located in the U.S., Mexico, the U.K., China, the Czech Republic, and France. The Company’s U.S. operations are located in Plymouth, MN, Litchfield, MN, Mason City, IA, River Falls, WI, and Pawling, NY. “The impact on these communities can be profound,” added Pete Stavros. “Ownership Works has a mission to create $20 billion of wealth over the next decade for lower-income and diverse workers; I am excited for this latest landmark in that journey.”
Read more: Business Wire
