Handy& Harman has been successfully acquired by American specialty materials Rogers for US$ 157 million.
Arlon produces high-frequency circuit materials and engineered silicones, which will complement Rogers’ printed circuit materials and high-performance foams business segments, the company said.
For the 12 months ended 30 September 2014, Arlon generated revenue and operating income of $100.4m and $16.7m, respectively.
Arlon’s engineered silicones products will strengthen Rogers’ solutions and market opportunities for precision-calendered silicones, silicone-coated fabrics and specialty extruded silicone tapes in sealing and insulation applications.
The transaction is expected to be accretive to Rogers’ operating income this year, excluding the purchase accounting and transaction costs.
Rogers president and CEO Bruce Hoechner said: “We are very pleased to formally welcome Arlon’s employees to the Rogers team.
“This acquisition provides Rogers with unique growth and diversification opportunities for two of our strategic businesses and aligns well with both our long-term strategy to grow through selective acquisitions, as well as through organic growth.”
Rogers signed a definitive agreement for the transaction in December 2014.
The company financed the acquisition through a combination of cash and borrowings under an existing bank credit facility.