MIDDLEFIELD, Ohio—Universal Polymer & Rubber Ltd. has purchased Crest Rubber Co. of Ravenna, Ohio, marking the fourth acquisition UP&R has made over the past nine years.
Crest Rubber was formed in 1960 and produces hydraulic and pneumatic seals along with other industrial products, including agricultural mats, utility mats and mud flaps. Crest Rubber personnel will be retained by UP&R, either at its Middlefield or Tallmadge, Ohio, facilities. The business itself will transfer into UP&R's molding operation in Middlefield, according to a company statement.
Terms of the deal, or the number of employees involved, were not disclosed.
UP&R officials said customers will benefit by a strong support staff and a refined product development process to ensure smooth transitions and program launches. They also said UP&R and Crest each excel in specific but complementary areas.
All of the acquisitions the Middlefield-based firm have made have been northeast Ohio rubber product makers, and UP&R said it "will continue to search out best-fit partners around the polymer industry that UP&R can acquire and successfully assimilate into its overall plan and its wide customer base."
UP&R is owned by Akron-based Cypress Companies, a private investment firm specializing in the industrial sector. Universal is a custom manufacturer of molded and extruded rubber parts—both dense and sponge, as well as extruded plastics goods.