INDIANAPOLIS—Hoosier Gasket Co. in Indianapolis has experienced both organic and "acquired" growth over the last few years, a trend that is continuing with the company's recent purchase of a gasket and fabrications provider in Sweden.
Brickpack A.B.'s facilities and products were purchased by Hoosier Gasket in February, according to a news release. Brickpack will retain its brand for the time being and is expected to operate as a wholly owned subsidiary of Hoosier Gasket, but will fall under the Indiana company's growing portfolio. Terms of the deal between the two privately owned companies were not disclosed.
As part of the acquisition, Hoosier Gasket acquires a leading provider of gasket and fabrications for the engine, transmission, processing and material handling markets in Europe. Company-wide, Hoosier now has roughly 210 total employees, including 50 outside of the U.S., with 30 of those coming as part of the Brickpack acquisition. The company is a global designer and provider of rubber-coated metal gaskets, rubber seals, soft gaskets and fabrications for the engine, powertrain, HVAC, appliance and industrial markets.
The purpose of the acquisition is to further expand Hoosier's product portfolio and global growth opportunities for existing customers, while providing an entry point for new customers to be introduced to Hoosier Gasket's product line, said Dan McDowell, Hoosier's chief commercial officer.
"This is a watershed moment for Hoosier Gasket. This is unique for us because it signifies that we are no longer confined to just the North American and Chinese markets. We are a global player," said McDowell.
Hoosier Gasket has made the investment to continue the growth trajectory it has seen over the last five years, McDowell said. Adding the capabilities of Brickpack to the existing operational capabilities allows Hoosier Gasket to grow globally.
"Adding the value-added engineering and design services to the existing Brickpack capabilities will allow us to expand into the multinational EU customers," McDowell said. "Those services add value to our offering, leading to more profitable releases, and is necessary to participate in original equipment programs."