Minnesota Rubber and Plastics(MRP) a leading provider of elastomer and thermoplastic solutions, is to be acquired by KKR, a global investment firm, from Norwest Equity Partners (NEP), a Minneapolis-based middle-market equity investment firm. This transaction marks KKR’s second acquisition of a middle-market business in the industrial sector and is being funded through KKR’s Americas XII Fund. Financial details of the transaction were not disclosed.
MRP offers highly engineered elastomer and thermoplastic solutions for medical, water, industrial and other end markets globally.
This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018.