Finzer Roller has acquired Carolina Rubber Rolls from HBD/ Thermoid Inc. The deal reached a conclusion on Jan. 18, and financial details of which have undisclosed.
Finzer CEO John Finzer said that the acquisition was completed in nine days. He said, “Through some hard work on the part of our lawyers, we closed the deal on Jan. 18. I’m very proud of that, to be able to quickly respond to an opportunity and put it all together reflects well on Finzer Roller with the help of HBD/Thermoid. It’s an opportunity we’re glad we were able to execute on.”
The president of HBD/ Thermoid’s rubber products group, Matt Lockard, confirmed that almost all of the six or so employees who were affected by the acquisition were given an opportunity within the Salisbury plant, which is one of three hose manufacturing plants in the company.
The Carolina roller business accounted for less than 2 percent of Thermoid’s rubber group sales, Lockard said. He also gave the reason behind the company’s motivation to divest Caroline, saying, “It was a tough decision to divest Carolina Rubber Rolls, but we really felt like we needed to focus on our core hose business. We want to continue to drive improvements through our delivery performance and our new product development to find solutions for customer problems. At the end of the day, the business was really just a better fit for someone like Finzer Roller.”
Apart from absorbing all the business and moving production facilities, Finzer will also acquire some equipment from Carlina Rubber Rolls.
Image by: Finzer Roller