STOCKHOLM—Swedish polymer and rubber company HEXPOL AB has acquired Alabama-based Robbins Holdings, Inc. for $89.2 million.
Robbins is a rubber compounder specializing in molded envelopes and curing tubes for truck, heavy equipment and airplane tires.
“The acquisition is a very good compliment to HEXPOL Compounding and broadens our presence with rubber compounds into end user markets like agriculture, mining, oil and gas,” said Georg Brunstam, CEO of HEXPOL Group.
Robbins has sales of about US$100 million with 240 employees in three production facilities: Muscle Shoals, AL, Findlay, OH and Tallapoosa, GA.
The deal, funded by cash and existing bank loans will result in a $2 million to $3 million integration and transaction fee to be charged in Q4 2012. Robbins will be consolidated from December 2012.