CHANDLER, Ariz.—Rogers Corp. has acquired Silicone Engineering Ltd., a Lancashire, England-based manufacturer of silicone material solutions.
With the acquisition, Chandler-based Rogers expands its advanced silicone platforms and adds a European Center of Excellence to its service offerings. The English location, Rogers said, can better serve overseas customers across numerous markets, including electric and hybrid electric vehicles, industrial and medical.
"Silicone Engineering is a premiere silicone solutions provider and is an outstanding strategic fit with our Elastomeric Material Solutions business," Bruce Hoechner, Rogers' CEO and president, said in a statement. "This combination creates a dynamic silicones platform in Rogers that further strengthens our ability to serve our global customers, especially for our core markets."
Terms of the transaction, which closed Oct. 8, were not disclosed.
In a statement issued the same day as the closing, Rogers noted that that Silicone Engineering reported a revenue of around $40 million during the past 12 months, with a profitability "comparable to that of (Roger's) elastomeric material solutions business unit."
Hoechner anticipates that the similarities and synergies of the two companies will allow for a seamless integration moving forward.
"The Silicone Engineering team, products and business model are closely aligned with Rogers, so we expect a seamless integration, and we look forward to maximizing the strategic commercial opportunities this combination affords," he said.