Cooper Standard is to acquire Lauren Manufacturing and Lauren Plastics, subject to regulatory approvals and related parties’ consent.
The companies are extruders and moulders of organic, silicone, thermoplastic and engineered polymer products with expertise in sealing solutions for industrial and speciality automotive applications.
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The ISG business of Cooper Standard is responsible for accelerating growth and maximizing the value of the Company’s products and technologies in non-automotive and speciality markets. This acquisition expands ISG’s sealing product line in key segments, including: building and construction; containers and enclosures; distribution and aftermarket; as well as specialised products for the automotive and transportation markets.
“This transaction strengthens Cooper Standard’s position in non-automotive and adjacent markets with an organisation that is aligned with us culturally and brings with it mature and established systems,” said Cooper Standard chairman and CEO, Jeffrey Edwards.
“Lauren Manufacturing and Plastics will become part of our portfolio to accelerate our entire sealing offering into new markets.”
Cooper Standard will incorporate more than 500 Lauren employees across four facilities – two in New Philadelphia, Ohio; one in Kent, Ohio; and one in Spring Lake, Michigan– to the Cooper Standard family.
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By GlobalDataTerms of the acquisition were not disclosed.
