CEREDO, W.Va.—When American National Rubber Inc. closed in late 2008, no one could have expected the breath of life that happened in the aftermath.
American National was sold in two parts in late 2008, with Delta Partners L.L.C. purchasing the assets of ANR's closed-cell sponge rubber business, including its 100,000-sq.-ft. Ceredo facility. FabSol L.L.C. acquired ANR's automotive rubber fabrication site in Cadiz, Ky.
Before selling, ANR battled difficulties, including heavy debt and high operating costs during a tough economic climate.
On Dec. 15, 2008, ANR Partners Inc. (doing business as American National Rubber) was formed, and within 60 days the company was both cash positive and profitable, said Doug Kinney, managing partner and principal for Delta Partners.
Since then, under the leadership of Kevin Holderby—who serves as president and Chief Operating Officer—ANR continues to thrive in all areas, Kinney said, including posting revenue and profits in 2011, 2012 and 2013.
“We started it, sort of, from scratch,” he added.
Since purchasing the company, Kinney said it has had a steady 3 to 5 percent growth per year in both revenues and profit margin.