CINCINNATI—The rubber is hitting the road for Restoration Parts Group. Or at the very least rubber is becoming a much bigger part of the company's growth path.
The owner of a number of well-known brands in the classic car aftermarket, such as Mr. Mustang and Trim Parts, has acquired SoffSeal Inc., a Cincinnati-based rubber manufacturer of seals and other rubber parts for the industry. Financial terms were not released.
It is an acquisition that seems about “50 years in the making,” said Mitch Williams, Restoration Parts Group president and CEO. RPG was formed in 2012.
“If you look at our two main companies, one makes exterior vehicle trim parts and other manufactures interior vehicle trim parts for classic cars,” Williams said. “Where the interior meets the exterior, you need rubber. The last couple of years, we have had a foot in the rubber business, but with this (acquisition) we are jumping in with both feet.”
Jeff Hubert, former SoffSeal president and current Trim Parts general manager, said a deal with Trim Parts had been discussed for a couple of decades, long before Restoration Parts Group became the parent organization. In reality, SoffSeal had been looking for some acquisitions of its own before the deal with Trim Parts was finalized.
“The acquisition discussion formalized in January 2014, and we were finally acquired by Trim Parts in September,” Hubert said. “So, the short answer is 20 years.”
With the addition of SoffSeal, RPG has added another company to its ever-expanding family of companies, which already includes Trim Parts, Parts Unlimited Interiors, The Right Stuff Detailing, Mr. Mustang and First Place Auto Products. RPG is owned by Dubin Clark & Co. Inc., which owns leading automotive brands Flowmaster, Hurst Shifters, Hurst Driveline, B&M Racing and Dinan Engineering.