Milwaukee, Wisconsin - Blue Point Capital Partners has acquired VRC Holdings Inc., a manufacturer of custom moulded rubber, plastic and sealing products.
Blue Point acquires US rubber components maker VRC
The new private equity owner will provide VRC both capital and management expertise to sustain success and support future growth, VRC president Tom Gebhardt said 20 Aug.
Based in Milwaukee, VRC consists of Vanseal Corp., Ritus Corp. and its subsidiary Classic Molding Co.
The sale was completed for an undisclosed amount, according to a news release from Grace Matthews Inc., which served as the financial adviser for Ritus and Vanseal in the transaction.
Gebhardt and the rest of the management team that operates all three firms will continue to lead VRC.
Its products include seals, grommets, tubing and moulded thermoplastics primarily for the aerospace and defence, automotive, industrial, oil and gas, marine and medical markets.
Blue Point manages more than $1.5 billion (€1.3 billion) in committed capital and has a presence in both the US and Asia.
The firm said it typically invests in businesses that generate between $20 million and $300 million in revenue.
John Lemay, a partner with Blue Point, said the private equity firm is "impressed with the quality and capacity of VRC's current asset base and believe the company operates in an attractive niche of the industrial rubber and plastic component markets."