Trelleborg´s acquisition of CRP through its Engineered Systems business
area has now been concluded. CRP Group
is an engineering company with annual sales of slightly more than $130 million and 500 employees, primarily in the UK and the US. This will make Trelleborg a global market leader in polymer systems
and solutions for offshore oil and gas projects
The purchase price totals approximately $123.6 million in the form of cash and through the assumption of loan-repayment obligations.
CRP was founded in 1974 and is currently controlled by Barclays Private Equity
. The company has five production units in Skelmersdale (also head office) and Barrow-in-Furness, in the UK, as well as in Randolph and Canton, Massachusetts
, and Houston, Texas
, in the US. Sales and marketing offices are located in important offshore areas.
The acquisition is expected to provide synergies with existing operations in such areas as sales/marketing and technical development.