MANCHESTER, Conn., April 03, 2019 (GLOBE NEWSWIRE) -- Lydall, Inc. (NYSE:LDL), through its wholly-owned subsidiary Lydall Performance Materials, Inc., announced today that it acquired the gasket materials business from Hollingsworth & Vose Company on April 1, 2019. This transaction was fully funded by on-hand cash.
This acquisition builds on the Interface business that was acquired in August 2018 and integrated into Lydall Performance Materials. The Interface brand is a globally recognized leader with a comprehensive portfolio of complete sealing solutions, deep in-house technical capabilities, and vertical integration. This purchase will expand the Company’s position in the global gasket material sector.
Lydall expects a seamless customer transition with full integration expected to occur within the Second Quarter of 2019.
Josh Ayer, Division President, H&V said, “As a long-time supplier to the industry, we are happy to have Lydall acquire the book of business as this was the best way to ensure continuity for our mutual customers. Lydall is a proven and trusted supplier in this space, and we have full confidence in them to service and grow these customer relationships with their Interface brand.”
Paul A. Marold, President, Lydall Performance Materials said, “We are extremely excited about the acquisition of the gasket materials business from H&V. It coincides perfectly with our strategy of continuing to grow our market share in the sealing market with high-quality products.” Marold added, “We look forward to serving the needs of existing and new customers as a result of this transaction, and we believe all will experience a seamless transition to Lydall Performance Materials.”
Lydall Performance Materials, Inc. is a wholly-owned subsidiary of Lydall, Inc. (NYSE:LDL), a New York Stock Exchange listed company, headquartered in Manchester, Connecticut with global manufacturing operations producing specialty engineered products for the thermal/acoustical and filtration/separation markets. For more information, visit http://www.lydall.com. Lydall® is a registered trademark of Lydall, Inc. in the U.S. and other countries.
