Kirchner and Company, Inc. acted as M&A Advisor and Agent to Imperial Rubber and Urethane Corporation.
Plymouth, Mich., 2 August 2006 — Freudenberg-NOK General Partnership announced today that it has acquired the assets of Imperial Rubber and Urethane Corporation of Nisku, Alberta, Canada, to expand its business of elastomer products for the oil and gas market. Terms of the agreement were not disclosed. The company will continue to manufacture oil and gas products at its two current facilities located in Nisku, Alberta and will distribute these products through Simrit, the company’s sales and marketing organization for industrial products.
Imperial Rubber was founded in 1979 and had grown to be a leading provider of elastomer products and engineered solutions for the oil and gas service industry in Canada and around the world. Commencing in 2001, Brian Jones, president and chief executive officer, and his team successfully refocused the company in the key elastomer oil service markets of cementing (plugs and packer cups), well service (swab cups, pipe wipers and blow-out preventer parts), safety products and downhole tools. According to Jones, the company services renowned industry leaders and others worldwide. Jones will continue to manage operations at Imperial Rubber for Freudenberg-NOK.
“Freudenberg-NOK has a goal to grow in the oil and gas products market and this acquisition reflects our commitment to that vision,” said Dr. Jorg Schneewind, general manager of the Special Sealing Products Division, Freudenberg-NOK. “With the addition of Imperial Rubber’s product expertise and sales team, as well as our technical and material capabilities, we will employ the most advanced technology currently available to meet our customers’ needs in North America and worldwide.” Founded in 1989, Freudenberg-NOK General Partnership is a joint venture between Freudenberg & Co. of Germany and NOK Corp. of Japan.
Freudenberg-NOK is a leader in automotive sealing and noise, vibration and harshness (NVH) products and is a supplier to all automakers producing in North America, as well as all major tier one chassis and drivetrain suppliers. The company’s headquarters and technical center in Plymouth, Mich. houses the most extensive supplier-operated sealing and noise and vibration testing facility in North America. Freudenberg-NOK offers its automotive customers globally integrated products, including sealing packages for transmissions, engines, brakes, axles and steering, NVH components and packages, and all rubber, plastic and PTFE (polytetrafluoroethylene) components for suspension, electrical and fuel systems.
The company also offers an extensive portfolio of special precision seals for the aerospace, appliance, diesel engine, marine, medical, off-highway equipment, oil and gas, recreational vehicle and semiconductor markets.
For more information, visit the Freudenberg-NOK website at http://www.freudenberg-nok.com/ .