Mergers & Acquisition

CGR Products Expands with Acquisition of Wisconsin Manufacturer

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CGR Products, Inc.

4655 US Hwy.29 N., Greensboro, NC, 27405, USA

Original Press Release

CGR Products Expands with Acquisition of Wisconsin Manufacturer

Press release date: October 31, 2012

CGR Products, a fabricator of flexible materials with a nearly 50-year history of providing customized solutions to the manufacturing industry, has acquired Wisconsin-based gasket and sealing product manufacturer EG Gasket, it was announced today. The acquisition was announced jointly by Chuck Keeley, president, CGR Products; and Doug Ginter, president, EG Gasket & Supply. The combined company will employ more than 110 employees in three states, expanding the ability for CGR Products to meet the demands of customers who require precision products and quick turnaround times.

"Three years ago, in our annual strategic planning session, we decided that growth through acquisition was an important initiative to assure our long-term success and to provide additional growth opportunities for our associates," said Keeley. "We developed a prioritized list of attributes we were targeting, and over time, we investigated a number of different companies. When EG Gasket became an option, we found a company that met many of the key criteria we outlined, including geography, capabilities, and markets. We are optimistic that we can leverage the local manufacturing capabilities with our established sales presence in the area into a nice growth opportunity moving forward." "EG Gasket has a long-standing reputation of solving customer problems and providing excellent service," continued Keeley. "We are confident that we can learn from each other and create an entity that brings more value to our customers than the two could do as individual companies." Though EG Gasket President Doug Ginter will retire as the acquisition is completed, Keeley affirmed that all current employees of Waukesha-based EG Gasket will remain with CGR - an important ingredient in leveraging the experience, expertise and six-decade reputation of EG Gasket.

"The Ginter family has proudly operated EG Gasket in the Milwaukee area for 62 years. I am extremely pleased and excited to have our company acquired by CGR Products of North Carolina," Ginter said. "CGR has experience with acquisitions as well as an established sales presence and numerous customers in Wisconsin. They are the ideal buyer for EG Gasket's employees, customers and suppliers. I know they will serve each constituency well in the future." EG Gasket, founded in 1950, earned its reputation as a reliable manufacturer of gasket and sealing products for many markets, including small engine, heavy equipment, power transmission, and power generation. About CGR Products (www.CGRProducts.com)

Since its beginnings in 1963 as Carolina Gasket and Rubber Company, CGR Products has been the go-to provider of customized flexible fabrication solutions for the industrial OEM markets. CGR Products cuts, slits, laminates, skives, and molds flexible, non-metallic materials into precision components at three locations - including its corporate headquarters in Greensboro, North Carolina, as well as in Decatur, Alabama and its newest location in Waukesha, Wisconsin. CGR has combined personnel, capabilities, financial strength and expertise to custom fabricate flexible materials efficiently. CGR strives to attain a high degree of responsiveness in all transactions with customers and suppliers so that doing business with the company is fast and easy.

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