Charlotte, North Carolina – EnPro Industries Inc. has purchased the assets of Rubber Fab Gasket & Molding Inc. to expand the capabilities and reach of its Garlock group of companies.
The deal primarily will expand the group's presence and scale almost two-fold in the hygienic market, an EnPro spokesman said.
Rubber Fab, headquartered in Sparta, New Jersey, is a designer and producer of a full range of sanitary gaskets, hoses and fittings for the hygienic process sector, principally the pharmaceutical, bio-processing, and food and beverage industries.
Its designing capabilities and expertise in the field are what make it stand out from its competitors, the spokesman said.
He said the company makes some sanitary gaskets and hoses but outsources the rest of its product production to contract manufacturers. The business works with a number of distributors to supply its products.
The companies did not disclose financial details.
Garlock manufactures high performance sealing and fluid handling products for the chemical, power generation, and oil and gas markets.
It also is active in some markets served by Rubber Fab, the spokesman said, but it has a smaller presence with sales of between $8 million and $10 million annually. Rubber Fab's yearly revenues are about $17 million, primarily in the hygienic field.
Steve Macadam, president and CEO of Charlotte-based EnPro, said the acquisition represents a clear commitment by the company to invest in the pharmaceutical, food and beverage, and bio-processing sector, noting that it's a key part of Garlock's growth plan.
“Rubber Fab's focus is highly complementary with Garlock's strategic market focus, and the acquisition provides both product adjacency and customer intimacy that will create new growth opportunities for Garlock,” he said.
Rubber Fab's experienced work force of 40 along with its management team will remain with the company, the spokesman said. They will continue to operate out of Rubber Fab's plant in Sparta, which will be retained by its new parent company, he said.
According to Garlock president Eric Vaillancourt, Rubber Fab brings a high level of industry focus, innovative products and a strong distribution network to Garlock.
“We are confident that our combined capabilities will enhance our delivery of highly engineered sealing components and fluid handling solutions to customers operating across all hygienic process industries,” he said.
Garlock plans on operating the company as a stand-alone business for the immediate future, according to the spokesman. It also intends to continue using the firm's distributors.
Rubber Fab was sold to EnPro because it is looking to grow, said Rubber Fab CEO Bob DuPont Sr. In a market that demands higher levels of performance and compliance, he said, the company has put together a solid 20-plus year record of innovative solutions to its customers.
“While we have experienced strong and consistent growth throughout our history, we realised 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,” he said. “EnPro and Rubber Fab share a very similar culture.”