MELKSHAM, England—Avon Rubber P.L.C. has completed the $130 million acquisition of Cleveland-based helmet maker Team Wendy.
Team Wendy is a family business and a supplier of helmets, helmet liners and retention systems for military and first responder markets.
The United Kingdom manufacturer announced the acquisition in September, saying it would finance the purchase through the sale of its rubber dairy equipment business, milkrite|InterPuls.
At the time, Avon said the move was an important step in the development of the company as a leading provider of critical personal protection systems to military and first responder markets.
By combining Team Wendy with its existing helmets and armor business, Avon expects to create a "global leader" in military and first responder helmets with "a broader product portfolio and stronger capabilities and routes to market."
Team Wendy reported sales of $44.2 million and earnings of $13.4 million in 2019.
The company supplies helmet and retention systems to the U.S. department of defense, a key Avon customer, as well as other global clients.
The business currently operates from a single facility in Cleveland, employing approximately 130 people.
Team Wendy will continue to operate from its Cleveland base after the acquisition, led by CEO Jose Rizo-Patron, Avon said.
Avon Protection is a supplier of respiratory and ballistic protection for military and first responders, and has more than 1,200 employees across 12 global locations, 70 percent of which are based in the U.S.