ROCHESTER, N.H.—The Rubber Group continues to expand its Midwest-to-New England reach in custom molded rubber product markets, specifically in the aerospace and electrical power transmission spaces with its two most recent acquisitions.
TRG bought Silicone Rubber Right Products L.L.C. and Team Products River Investments L.P, both of Illinois, effective March 1.
Terms of the purchase—both companies were part of the same transaction—were not disclosed.
Rob Pruyn
"Over the past 18 months, TRG has diligently sought out strategic partnerships to bolster our capabilities and enhance customer service," TRG CEO Rob Pruyn told Rubber News. "We've been actively seeking organizations that mirror our customer-centric culture, possess deep expertise in elastomers and deliver value through reliable and innovative solutions for demanding applications."
TRG's due diligence led it to these "two exceptional companies," he said.
"These acquisitions mark a significant expansion into the defense and aerospace electrical power transmission markets, while also yielding strong cost synergies and reinforcing our competitive edge," Pruyn said.
Jorge Lopez, owner and president of both SRRP and Team Products, "has truly created something remarkable," Pruyn added.
"SRRP's engineering staff works closely with customer engineering departments in the development stage of many complex applications, bringing us frontline access to creation of new projects which we will leverage with our existing customer base as well to make TRG the primary supplier for our customer rubber needs," Lopez told Rubber News.
Jorge Lopez
TRG is owned by private equity firm River Associates Investments L.P., based in Chattanooga, Tenn.
The 120-person rubber molder—including the 30 employees from SRRP and 14 from Team Products—offers compression, transfer and injection molding for OEs.
The firm has about 90,000 square feet between its home in New Hampshire; SRRP's location in North Lake, Ill.; Team Products, based in Mount Carol, Ill.; and Cooper Products, based in Laconia, N.H.
TRG purchased Cooper Products, located about 25 miles from TRG's Rochester headquarters, in December 2023.
Cooper Products makes bearing seals and precision custom-molded components, chiefly for the aerospace and automotive industries.
Terms of that deal were not disclosed.
"Over the past 18 months, our main goal has been to build a structure that can support our growth," Pruyn said. "We've put together a strong team with the skills, experience, and motivation to develop and execute plans that add value by connecting with the right partners.
"And there's more to come."
Founded in 1986, The Rubber Group manufactures and distributes custom compression and injection molded rubber products, including grommets, bellows, bumpers, seals and hoses.
The company's products often are used in critical, high-cost-of-failure applications across a broad range of end markets, including medical, oil and gas, general industrial and transportation.
Pruyn said TRG will leverage the silicone extrusion expertise of SRRP, as well as the major avenues for growth that SRRP presents in the aerospace industry.
Also a manufacturer and distributor, SRRP works in precision rubber molding, extrusions and die-cut components in both low- and high-volume runs. The firm works in aerospace and defense; food and beverage; and general industrial applications.
TRG has always been involved in silicone molding, though SRRP brings additional capabilities, particularly in the formulation and mixing of high-performance materials.
"They excel in extruding silicone profiles, waterjet cutting molded silicone sheets, and manufacturing complex parts through transfer or compression molding," Pruyn said. "Notably, all their equipment is brand new and features best-in-class controls and ergonomics. Furthermore, all presses are equipped with vacuum capabilities."
Pruyn added that approximately 50 percent of SRRP's customers come from the defense and aerospace sectors, as the facility maintains AS9100 certification.
"While TRG's presence in aerospace is currently modest, we are enthusiastic about its potential for growth," Pruyn said.
Team Products specializes in precision rubber molded and extruded components for a range of industries.
"Joining forces with The Rubber Group is an exciting opportunity for us," Lopez said. "I chose to partner with The Rubber Group because of our shared values and vision, seeing the potential to offer new solutions to our existing customers.
"I am thrilled about the next phase of growth and am committed to staying with the organization to contribute to its continued success."
Team Products molds components for OEMs who make insulating materials for high-voltage applications.
"Given TRG's presence in this market segment, the synergy between the two companies is evident," Pruyn said.
On the distribution side, The Rubber Group is the primary North American distributor for ContiTech Industrial vibration control products.
These products provide active and passive vibration damping and are used in commercial vehicles, passenger cars and light trucks, marine and heavy duty engines, machines and plant engineering, railway vehicles and off-highway vehicles.
Debt financing for the SRRP and Team Products deal was provided by Bell Capital.
River Associates, TRG owner, targets companies in the $3 million to $15 million EBITDA range and has about $345 million in committed capital
"With SRRP and Team Products joining The Rubber Group, the organization gains access to new markets and enhances its capabilities to serve a broader customer base," Pruyn said. "We are excited for SRRP and Team Products to join The Rubber Group platform.
"The combination ... furthers our commitment to providing unparalleled solutions to our valued customers."
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