Minnesota Rubber and Plastics has a new owner in $950M deal

Investment firm KKR is selling Minnesota Rubber and Plastics to Trelleborg Group for approximately $950 million.

MRP (incorporated under the name Quadion) has more than 1,450 employees, and all will receive cash payouts when the deal closes sometime before the end of the year.

“MRP shows the power of building an ownership culture, something we believe many more companies can replicate, and the potential of the shared ownership movement,” KKR Americas Private Equity co-head Pete Stavros said in a news release. “Trelleborg is a great cultural fit for MRP and the ideal strategic partner. As part of Trelleborg, MRP will continue to be an employee-centric organization with exciting opportunities for continued innovation and global growth.”

Plymouth, Minnesota-based MRP was founded in 1945 and now has eight manufacturing facilities in the U.S., Mexico, England, the Czech Republic and China. The company makes engineered elastomers and thermoplastics for the med…

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