CHANDLER, Ariz.—Rogers Corp., a manufacturer of engineered material solutions, will acquire Griswold L.L.C., a manufacturer of custom-engineered cellular elastomer and high-performance polyurethane.
Terms were not disclosed for the transaction, closed July 6, according to a Rogers release.
Rogers expects the transaction to be accretive to 2019 earnings per share. Trailing 12-month revenues for Griswold were nearly $30 million. Rogers plans for Griswold's profitability to be comparable to Rogers' Elastomeric Materials Solutions segment's current product lines in 2020 and beyond.
Griswold's cellular elastomer offerings will expand Rogers' product portfolio, specifically the EMS segment, and its polyurethane products will increase Rogers' existing EMS capabilities, the company said.
The acquisition demonstrates continued execution on synergistic mergers and acquisitions as a core element of Rogers' strategy, said Bruce Hoechner, Rogers president and CEO.
Griswold's products serve a variety of applications, including general industrial, electronics, automotive and consumer markets.