Integrated Polymer Solutions buys sealing component maker IRP Group
The acquisition will further Integrated Polymer Solutions' business expansion in the specialty medical components sector.
In a deal involving two firms headquartered in Long Beach, Calif., Integrated Polymer Solutions (IPS) has purchased IRP Group, a designer and manufacturer of critical-to-function elastomeric sealing components, for an undisclosed amount.
In a Feb. 18 news release, IPS said that IRP “has the scalable infrastructure” to support high-growth platforms and is focused on both the rapidly expanding Class I and II medical device market “due to its best-in-class liquid silicone rubber molding capabilities”, as well as the aerospace and defense market, “where it is positioned on long-lived platforms”.
IRP was founded in 1999 by Rod Trujillo.
“Rod and his team have built a remarkable group of companies that serve very attractive markets with technologies and products that are complementary to IPS,” IPS CEO Rich McManus said. “We are delighted that both Rod and Casper Zublin, president of IRP, have agreed to continue as senior advisors for Arcline and IPS so we can draw from their deep expertise.”
Arcline Investment Management is a private equity firm and parent company to IPS.
“IRP has found an ideal partner in IPS that will continue the company’s growth trajectory in our critical markets while developing our employees and delighting our customers with strong technical solutions, excellent delivery and quality performance,” Trujillo said. “As senior adviser and significant investor in IPS, I look forward to supporting the company’s future business expansion, especially in the specialty medical components sector.”