ALTDORF, Switzerland—Datwyler Group has signed an agreement to buy Columbia Engineered Rubber Inc. in a deal intended to enhance its Sealing Solutions Division's sales and distribution offerings to the U.S. automotive industry and other industrial markets.
With annual sales of around $26 million and 70 employees, Columbia Engineered Rubber specializes in the engineering, manufacturing, sales and distribution of custom rubber components. Datwyler said Columbia has long-standing relationships in the U.S. auto industry.
The acquisition of the Dayton, Ohio-based firm from parent Keystone Holdings Inc. is scheduled to close by the end of October. Terms of the sale were not disclosed.
Columbia Engineered Rubber also has a long-term relationship with Datwyler Sealing Solutions (Anhui) Co. Ltd.—formerly Zhongding Sealtech—which Datwyler acquired in China in 2012.
Datwyler also said the deal will enable it to offer U.S. customers local engineering and prototyping services. Mark and Bryan Bueltel, the current owners of Keystone Holdings Inc., will continue to manage and develop the business alongside the management team and associates of Columbia Engineered Rubber, according to Datwyler.