EnPro Industries, Inc. NPO, a designer and manufacturer of engineered industrial products, announced on Monday it has entered into an agreement to acquire the assets of Rubber Fab Gasket & Molding.
Rubber Fab is a privately-held company that provides sanitary gaskets, hoses and fittings for the hygienic process industries. The company recorded sales of approximately $17 million last year.
Rubber Fab expects the acquisition to expand its presence and scale in the hygienic market space and also complements its existing sealing solutions to provide a "truly comprehensive portfolio."
Rubber Gab will become part of EnPro's Garlock Family of Companies, a supplier of high performance sealing and fluid handling products.
Financial terms were not disclosed but the acquisition a cash transaction, which is expected to close on April 29.
Bob DuPont, Sr., chief executive officer of Rubber Fab said, "Rubber Fab has a 20+ year record of providing innovative solutions to its customers in a market that continues to demand higher levels of performance and compliance. While we have experienced strong and consistent growth throughout our history, we realized that a larger platform would provide new and better opportunities to serve our customers at a global level and, in so doing, provide opportunities for our employees. EnPro and Rubber Fab share a very similar culture, and I am excited to join the EnPro team."
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