KKR sells Minnesota Rubber and Plastics to Trelleborg

The sale price is $950 million.

  • Based in Sweden, Trelleborg is a provider of engineered polymer solutions
  • All of MRP’s more than 1,450 employees are receiving substantial cash payouts in connection with the closing
  • KKR was founded in 1976

KKR has sold Minnesota Rubber and Plastics, a provider of materials science-based elastomer and thermoplastic solutions, to Trelleborg Group. The price of the sale is about $950 million.

Based in Sweden, Trelleborg is a provider of engineered polymer solutions.

All of MRP’s more than 1,450 employees across six countries and four U.S. states, including hourly manufacturing production, technical and administrative employees, are receiving substantial cash payouts in connection with the closing as a result of the employee ownership plan implemented by KKR in 2018. Payments vary based on tenure and employment status, with employees who joined MRP in late 2018 and 2019 receiving payouts on average equivalent to over 12 months of annual income and longer-tenured employees receiving up to twice as much.

“I am incredibly proud of the entire MRP team’s accomplishments throughout our time together,” said Josh Weisenbeck, a partner at KKR who leads KKR’s Industrials private equity team, in a statement. “With Trelleborg, MRP will continue to have an employee-centric culture, and we are looking forward to seeing their many successes to come.”

MRP employees are also receiving access to pre-paid personal financial coaching and tax preparation services. Financial planning advice is being provided by Goldman Sachs Ayco Personal Financial Management in the U.S. and by RSM Global for international employees. Deloitte is providing tax services globally.

KKR was founded in 1976.