Rogers Corporation to Acquire ArlonDecember 30th, 2014 by Casey Flores
Around the holidays, some buy gifts. Others buy companies.
Rogers Corporation, a company that specializes in engineered materials solutions, has signed a definitive agreement to acquire Arlon, LLC, currently owned by Handy & Harman Ltd. for $157 million, subject to closing and post-closing adjustments. The transaction, which is subject to regulatory clearances, is expected to close in the first half of 2015. Rogers intends to finance the transaction through a combination of cash and borrowings under an existing bank credit facility.
“This transaction is truly a unique strategic fit for both Rogers and Arlon,” says Bruce Hoechner, president and chief executive officer of Rogers. “We are energized by the opportunity to serve our customers with our complementary capabilities and technologies in circuit materials and engineered silicones and to enhance value for our shareholders. We look forward to closing this acquisition as another significant milestone in Rogers’ growth as a premier global engineered materials solutions company.”
Revenue and operating income for the Arlon segment of Handy & Harman Ltd. were $100.4 million and $16.7 million, respectively, for the trailing twelve months ended September 30, 2014.