Melksham, UK - Avon Rubber plc has completed the $130 million (€110 million) acquisition f US helmet maker Team Wendy, the Melksham-based rubber products maker announced 3 Nov.
Based in Cleveland, Ohio, Team Wendy is a family business and a supplier of helmets, helmet liner and retention systems for military and first responder markets.
The UK manufacturer announced the acquisition in September, saying it would finance the purchase through the sale of its rubber dairy equipment business, milkrite|InterPuls.
At the time, Avon said the move was an important step in the development of the company as a “leading provider” of life critical personal protection systems to military and first responder markets.
Combining Team Wendy with its existing helmets & armour business, the UK rubber goods manufacturer expects to create a "global leader" in military and first responder helmets with “a broader product portfolio and stronger capabilities and routes to market.”
Team Wendy reported sales of $44.2 million and earnings of $13.4 million in 2019.
The company supplies helmet and retention systems to the US department of defense (DoD), a key Avon customer, as well as other clients globally.
The business currently operates from a single facility in Cleveland, employing approximately 130 people.
Post-acquisition, Team Wendy will continue to operate from its Cleveland base, led by CEO Jose Rizo-Patron, said Avon.
Part of Avon Rubber plc, Avon Protection is a supplier of respiratory and ballistic protection for militaries and first responders and has more than 1,200 employees across 12 global locations, 70% of which are based in the US.