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Article: Investment firm, managers buy rubber distribution group.
- Article from:
- Rubber & Plastics News
- Article date:
- July 14, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Steve Dudukovich
Private equity investment firm LLR Partners Inc. has teamed with senior management at Singer Equities Inc. to acquire the business from Paul Singer and his family.
Singer Equities comprises a group of distributorships in the industrial rubber products industry. Terms of the deal weren't disclosed.
In an industry where consolidation is currently the trend, Singer's management recognized it was time to make a move. "In order for us to keep the competitive edge, we needed to do something stellar to continue our growth strategy,'' said Otis Dufrene, Singer president and CEO.
LLR principal David Stienes said that ...