MUSCLE SHOALS, Ala. (Dec. 10, 2007) — Robbins L.L.C. has been purchased by Grey Mountain Partners from Poncet Davis Jr., whose family has owned the rubber products business for 60 years.
No management or work force changes are expected at the company, according to President and CEO Mac McCuistion. The firm makes envelopes, mold cure and precure curing tubes for the retreading industry. It also produces customized rubber compounds for a variety of markets.
It´s likely the business will get an infusion of capital from Grey Mountain, a Boulder, Colo.-based equity firm, to give the company the resources to grow internally and through acquisitions, he noted.
"The (Robbins) management team has done a great job of positioning the company for future growth," said Dan Crouse, vice president of Grey Mountain. He indicated that Grey Mountain anticipates the company will continue to grow and expand.
Grey Mountain specializes in acquiring companies with revenues between $30 million and $250 million, the firm said.