Greenwich, Connecticut -- Southfield Capital Advisors, a private investment firm, said 24 May that its portfolio company RCR International Inc. has completed the sale of its subsidiary, Jacobs & Thompson Inc. (J&T).
As part of the transaction, RCR also entered into a strategic supply agreement with J&T, who will continue to supply foams and tapes for RCR's insulation products. Terms of the transaction were not disclosed.
"The divestiture of J&T allows RCR to concentrate on our core expertise as a value-added manufacturer and distributor to the DIY market. Going forward, RCR is focused on driving organic growth and aggressively pursuing bolt-on acquisitions that will strengthen our market leadership within the insulation, utility and flooring categories," said Andre Daigle, pesident of RCR International, in a company statement.
"Furthermore, the negotiated supply agreement secures our long-standing relationship with J&T as a valued supplier to RCR. Following this transaction, each of these standalone companies will be strategically positioned for growth and mutual success."
Founded in 1946, RCR says it is recognized as a pioneer in the door and window insulation market. RCR makes and distributes over 2000 products including weather-stripping, insulation components, floor protection products, squeegees and other products for professionals and do-it-yourselfers. RCR has dominant market share in Canada. RCR distributes its consumer products in the US through its wholly-owned subsidiary, W.J. Dennis.
Jacobs & Thompson offers a comprehensive range of urethane, neoprene and polyethylene foams, felts and tapes with in-house formulation and manufacturing. It serves the automotive, appliance and window and door industries, as well as meeting foam and adhesive requirement for general manufacturing and industrial use.