Quadion LLC, d.b.a. Minnesota Rubber and Plastics, a provider of elastomer and thermoplastic solutions, is being acquired by KKR, a global investment firm, from Norwest Equity Partners, a Minneapolis-based middle-market equity investment firm.
Financial details of the transaction, , which is subject to regulatory approvals and other customary closing conditions and expected to close by year-end 2018, were not disclosed.
Led by Jay Ward, MRP CEO, MRP offers elastomer and thermoplastic solutions for medical, water, industrial and other end markets globally. For over 70 years, the company has built a reputation for its ability to design, develop and manufacture products for harsh environments, tight tolerances and technically demanding applications, including multi-material solutions.
It has engineering and manufacturing facilities across North America, Europe and Asia.