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Sale to private equity firm should bolster Q Holding Co.
MIKE McNULTY Rubber & Plastics
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Q Holding Co. of Twinsburg “is an excellent business and a global leader in the majority of its product categories,” according to 3i North America partner Richard Relyea.
Precision molded rubber and silicone components maker Q Holding Co. of Twinsburg will get an opportunity to further expand its growing business in Europe and in other regions of the world under the guidance of a new owner.
Private equity firm 3i Group P.L.C., with a strong foundation in Europe and elsewhere, plans to purchase the company and its three operating businesses — Qure Medical, QSR, and Quadra Tooling and Automation — from Industrial Growth Partners for an estimated $160 million. Both 3i and Q Holding have a common goal of expanding in a number of regions. The transaction, which is subject to standard regulatory approvals, is expected to close in mid- to late-December. Q Holding President and CEO Randy Ross said the company's management team and workforce of about 1,100 will remain intact. The firm operates six manufacturing facilities in the United States and China, selling products in more than 50 countries, and has a sales and engineering office in Germany. He said the management team was given an opportunity to invest in the operation, “so I have an interest in the company.” Q Holding primarily serves the automotive, medical and pharmaceutical markets with goods made by Qure Medical and QSR.
Well positioned
Richard Relyea, a 3i North America partner based in New York, said Q Holding “is an excellent business and a global leader in the majority of its product categories. It's well positioned in the markets it serves.”
He said his firm is looking forward to working with Q Holding's management team “to build upon this strong platform for growth, in particular leveraging our local presence and network to help accelerate the company's continued international expansion.” Relyea said there are excellent growth opportunities for Q Holding not only in the United States but in Mexico, Europe and China. “We have a terrific depth of resources to help them grow.” 3i is a leading international investment manager based in England. It is well-known throughout Europe where it has had a strong base since the 1940s, Ross said…..