Minneapolis, Minnesota — Norwest Equity Partners has agreed to sell Quadion LLC, which trades as Minnesota Rubber & Plastics (MRP), to global investment firm KKR & Co. LP.
KKR expects to complete the transaction by the year-end, subject to regulatory approvals and other closing conditions. Terms of the deal were not disclosed.
MRP has been owned by Norwest Equity Partners for the past six years. The company produces elastomer and thermoplastics components for sealing and other applications particularly in the medical, water, industrial markets.
The manufacturer operates seven global…