Foley & Lardner LLP advised Strait Lane Capital Partners, LLC in the sale of its portfolio company Griswold LLC
Rogers Corporation (NYSE:ROG), finalized the acquisition of Griswold LLC. Griswold’s products and solutions serve a variety of applications in the general industrial, electronics, automotive and consumer markets. Griswold’s custom-engineered cellular elastomer expands the product portfolio of Rogers’ Elastomeric Material Solutions (“EMS”) segment, while Griswold’s high-performance polyurethane products increase Rogers’ existing EMS capabilities.
Terms were not disclosed. Rogers’ expects the transaction to be accretive to 2019 earnings per share. Trailing twelve month revenues for Griswold were nearly $30 million, and Rogers plans for Griswold’s profitability to be comparable to EMS’ current product lines in 2020 and beyond.
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect, and connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide.
Griswold LLC is a leading manufacturer of a wide range of high-performance engineered cellular elastomer and microcellular polyurethane products and solutions. For over 65 years, Griswold has built its business by collaborating with its customers to fabricate customized solutions to meet their most intricate design requirements. From vibration control to shock and impact absorption, sealing to non-skid solutions, Griswold’s seasoned engineering team’s deep expertise will create effective solutions and meet unique functional requirements. Griswold is dedicated to ensuring that its products and solutions contribute to the fastest possible speed to market, while remaining cost effective and driving end-use success.
Foley & Lardner LLP advised Strait Lane Capital Partners, LLC in the sale of its portfolio company Griswold LLC with a team including Christopher J. Babcock, Jonathan M. Bull, Christopher Converse (Picture), Austin L. Poynter and Arthur R. Vorbrodt.
Involved fees earner: Christopher Babcock – Foley & Lardner LLP; Christopher Converse – Foley & Lardner LLP; Austin Poynter – Foley & Lardner LLP; Arthur Vorbrodt – Foley & Lardner LLP; Jonathan Bull – Foley & Lardner LLP;
Law Firms: Foley & Lardner LLP;
Clients: Strait Lane Capital Partners;