- AirBoss of America (BOS) has closed its acquisition of Ace Elastomer for US$42.5 million in cash
- Ace will become part of the company’s AirBoss Rubber Solutions (ARS) segment
- The addition of Ace provides ARS with immediate access to a customer base in the U.S. South and Mid-West
- AirBoss of America Corp is a Canada-based manufacturer of rubber-based products for the resource, military, automotive and industrial markets
- AirBoss of America Corp. (BOS) is up 5.03 per cent, trading at C$40.12 per share at 3 pm ET
AirBoss of America (BOS) has closed its acquisition of Ace Elastomer for US$42.5 million in cash.
A leading custom rubber compounder with facilities in Rock Hill, South Carolina and Chicago, Illinois, Ace will become part of the company’s AirBoss Rubber Solutions (ARS) segment. The addition of Ace propels ARS into a market-leading position while providing immediate access to a customer base in the U.S. South and Mid-West.
Ace’s founder, Russell Foster, and his management team will remain with Ace in their current capacities following the closing of the acquisition.
“We are excited to officially welcome Ace, its founders, management and employees to the AirBoss family,” said Chris Bitsakakis, President and COO of AirBoss.
“Top customers across a wide variety of industries choose Ace for their proprietary compounds and their commitment to quality and innovation. Adding ACE to AirBoss Rubber Solutions will allow us to immediately broaden our breadth and penetration into the specialty compounding market that we have been targeting for several years.”
AirBoss of America Corp is a Canada-based manufacturer of rubber-based products for the resource, military, automotive and industrial markets.
AirBoss of America Corp. (BOS) is up 5.03 per cent, trading at C$40.12 per share at 3 pm ET.