By Mike McNulty, Rubber & Plastics News
Akron, Ohio -- Universal Rubber & Polymer Ltd in Middlefield has acquired Dybrook Products Inc. to bolster its custom rubber product manufacturing operation and expand its customer base.
An operating company of private investment firm Cypress Companies in Akron, Universal Rubber made the purchase because both manufacturers have similarities and complement one another, creating a strong opportunity for future growth, according to Joe Colebank Jr, president and ceo of Universal Rubber.
The purchase could lead to an expansion next year at Universal Rubber's facility in Middlefield, where Dybrook's manufacturing operation will eventually be relocated, he said. Colebank added that the company also is interested in pursuing other potential acquisitions.
"We are taking a very aggressive strategy in growing Universal Rubber," Colebank said. "This includes acquisitions, as well as internal growth."
He said the Dybrook transaction has been completed. Financial details weren't disclosed.
Dybrook is a custom moulder and extruder of rubber and plastic products founded in 1989. It makes bumpers, gaskets, seals and other offerings using neoprene, nitrile, silicone and natural rubber for the automotive, industrial, commercial, energy and other markets.
Universal Rubber's established strengths include rubber and plastic extrusion, rubber moulding, secondary operations and overseas sourcing. It produces a wide variety of goods - including gaskets, bumpers, seals, bushings and shock mounts-made from NR, silicone, nitrile, polyurethane, polyisoprene, butyl, neoprene and other elastomers.
Together, the two companies are an excellent fit, Colebank said, because of their established strengths.
Virtually all of Dybrook's work force of about 42 employees will be offered positions within the combined company, Colebank said.