A leader in global engineering materials solutions,Rogers Company announced the acquisition Griswold Limited liability company. Griswold is a leading company Custom designed porous elastomer and high performance polyurethane Manufacturers. Griswold's products and solutions are used in all areas of the general industrial, electronics, automotive and consumer markets. Griswold's engineered design of porous elastomers expands the product portfolio of Rogers' elastomeric materials solutions division. Griswold's high performance polyurethane products also enhance Rogers' existing capabilities to provide elastomeric material solutions.
Rogers President and CEO, Bruce Hoechner said: 'Griswold has a good strategic fit with Rogers' flexible materials solutions business. The acquisition shows that collaborative M&A is a core element of our strategy. Just like the recent DeWAL and Diversified Like the Silicone Products acquisition, this acquisition is also based on Rogers' highly engineered materials platform for existing elastomeric material solutions, adding new products and capabilities to existing elastomeric material solution portfolios. Griswold is now included in Rogers We are very pleased with the company's enthusiasm. At present, our focus has turned to the successful integration of Griswold in the coming months.'
The transaction ended on Friday, July 6, 2018. Terms of the transaction were not disclosed. Rogers expects the transaction to increase to 2019 earnings per share. Griswold's revenue for the past 12 months is approximately $30 million, Rogers plans After 2020, increase Griswold's profitability to the level of the current Elastomer Materials Solutions division product line.