Automotive parts supplier Cooper Standard will acquire Lauren Manufacturing and Lauren Plastics, which creates rubber and plastic sealing solutions used in fenestration, construction, industrial and automotive applications. Terms of the deal were not disclosed.
Cooper Standard made the purchase through its Industrial and Specialty Group, which the company says is responsible for accelerating growth and maximizing the value of the company’s products and technologies in non-automotive and specialty markets. According to the company, the acquisition expands ISG’s sealing product line in building and construction; containers and enclosures; distribution and aftermarket; as well as in specialized products for the automotive and transportation markets.
“This transaction strengthens Cooper Standard’s position in non-automotive and adjacent markets with an organization that is aligned with us culturally and brings with it mature and established systems, along with excellent performance,” said Jeffrey Edwards, chairman and CEO of Cooper Standard. “Lauren Manufacturing and Plastics will become part of our portfolio to accelerate our entire sealing offering into new markets.”
Lauren employs more than 500 workers at four facilities – two in New Philadelphia, Ohio; one in Kent, Ohio; and one in Spring Lake, Mich.
Cooper Standard, headquartered in Novi, Mich., employs approximately 32,000 people globally and operates in 20 countries around the world. Its products include rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems.