"Rod and his team have built a remarkable group of companies that serve very attractive markets with technologies and products that are complementary to IPS," said Rich McManus, CEO of IPS. "We look forward to supporting the IRP leadership team with resources and investments to continue developing new products and capabilities."
Trujillo and Casper Zublin, president of IRP, will continue as senior advisers with IPS and Arcline Investment Management, a private equity firm and parent company to IPS.
"IRP has found an ideal partner in IPS that will continue the company's growth trajectory in our critical markets while developing our employees and delighting our customers with strong technical solutions, excellent delivery and quality performance," Trujillo said. "As senior adviser and significant investor in IPS, I look forward to supporting the company's future business expansion, especially in the specialty medical components sector."
IPS designs and engineers elastomeric components and tools for use in the aerospace, military, medical and specialty industrial markets. Its products include elastomeric seals, gaskets, tooling, hoses, ablatives, EMI/RFI/thermal shielding products, encapsulated O-rings and composite APU plenums and ducts.