AirBoss of America Corp. is pleased to announce that it has agreed to acquire 100% ownership of Ace Elastomer, Inc., a leading custom rubber compounder with facilities in Rock Hill, South Carolina and Chicago, IL.
Pursuant to the Agreement, AirBoss Rubber Solutions (“ARS”) will acquire Ace for approximately US$42.5 million, to be satisfied in cash upon closing. The transaction is subject to customary closing conditions and is expected to close during the third quarter of 2021. Ace’s President, founder and majority owner, Russell Foster, and the existing management team will all remain with Ace in their current capacities following the closing of the acquisition.
Full Article: globenewswire.com