Rogers to Acquire Arlon by Mid 2015

摘要

Rogers, ct - Rogers Corp. has signed a definitive agreement to acquire Arlon LLC for $157 million in cash and debt, subject to closing and post-closing adjustments. The transaction is expected to close in the first half 2015, subject to regulatory clearances. Rogers intends to finance the transaction through a combination of cash and borrowings under an existing bank credit facility. Arlon is owned by Handy & Harman. The division reported revenue and operating income of $100.4 million and $16.7 million, respectively, for the 12 months ended Sept. 30. In a statement, Rogers chief executive and president Bruce Hoechner said, "This transaction is truly a unique strategic fit for both Rogers and Arlon. 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."