NOVI, Mich.—Cooper Standard Automotive Inc. has agreed to acquire Lauren Manufacturing and Lauren Plastics, strengthening its reach into non-automotive industries.
The deal is pending regulatory approvals and consent from the related parties. Terms of the acquisition were not disclosed.
Lauren's manufacturing and plastics businesses are part of New Philadelphia, Ohio-based Lauren International. They produce extruded and molded parts of organic, silicone, thermoplastic and engineered polymer products. The units specialize in sealing solutions for industrial and specialty automotive applications.
"This transaction strengthens Cooper Standard's position in non-automotive and adjacent markets with an organization that is aligned with us culturally and brings with it mature and established systems, along with excellent performance," Jeffrey Edwards, chairman and CEO of Cooper Standard, said in a statement. "Lauren Manufacturing and Plastics will become part of our portfolio to accelerate our entire sealing offering into new markets."