Search company, investor...

Flexible Products Co.


Acquired | Acquired



About Flexible Products Co.

Flexible Products Co. is a privately-owned U.S. company that is a supplier of innovative and cost-effective anti-vibration solutions to the North American automotive market.

Headquarters Location

2600 Auburn Court

Auburn Hills, Michigan, 48326,

United States


Missing: Flexible Products Co.'s Product Demo & Case Studies

Promote your product offering to tech buyers.

Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.

Missing: Flexible Products Co.'s Product & Differentiators

Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

Latest Flexible Products Co. News

AirBoss of America Corp. To Acquire Flexible Products Co

Oct 3, 2013

. NEWMARKET, ONTARIO--(Marketwired - Sept. 30, 2013) - AirBoss of America Corp. (TSX:BOS) (the "Company" or "AirBoss"), announced today that it has entered into an agreement to acquire all the shares of Flexible Products Co. ("Flexible Products"), a privately-owned U.S. company that is a leading supplier of innovative and cost-effective anti-vibration solutions to the North American automotive market. The acquisition is expected to be immediately accretive to the Company's earnings and cash flows. Flexible Products is expected to generate sales of between US$100 and $110 million and Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") of between US$8 and $9 million for the year ended December 31, 2013. We welcome the management team and employees of Flexible Products to the AirBoss group of companies and look forward to their continuing commitment to customer service. AirBoss will acquire Flexible Products through an all cash transaction valued at approximately US$51 million, subject to working capital adjustments. The acquisition is expected to be immediately accretive to the Corporation's earnings per share and free cash flow per share. "We are pleased to announce the strategic acquisition of Flexible Products, which will provide an expanded product offering and diversification of revenue and cash flow," said Mr. Robert Hagerman, President and CEO of AirBoss. "We believe Flexible Product's anti-vibration solutions are well positioned to benefit from future trends in the automotive market, most notably the demand for higher fuel efficiency driving the increased use of new powertrain technologies, engine downsizing and high strength steels and alternative materials. " Doug Reid, the President of Flexible Products stated, "I am proud of the significant growth and development of Flexible Products over the years. The dedication of our people has enabled Flexible Products to become a leader in the automotive anti-vibration solutions market and we see the sale to AirBoss as the natural progression to further growth. Our company has had several opportunities to accelerate its growth by supporting its customers in other geographic regions such as Mexico, South America and Asia. AirBoss has the scale and capital required to take advantage of such opportunities in the future. " Acquisition Highlights The all cash purchase price is approximately US$51 million, subject to working capital changes. The acquisition will be financed with debt, with the Company entering into a new debt facility with a consortium of financial institutions and by its existing bankers. Following completion of the transaction there will be approximately $30 million in undrawn facilities still available. Flexible Products designs, engineers and manufactures rubber and synthetic rubber products, such as bushings, dampers, boots, and isolators that are used to eliminate or control undesired vibration and noise, to enhance interior comfort, quality, increase the durability of a vehicle, and improve the overall experience of a vehicle's passengers. Flexible Products has a commercial, engineering and manufacturing presence in Auburn Hills, MI, with 311,000 square feet of manufacturing space split between 3 facilities Acquisition provides revenue and cash flow diversification within AirBoss' Rubber Compounding segment. Following the closing, Mr. Reid and the existing Flexible Product's management team will continue to run the day to day operations. The acquisition, which is expected to close on October 16, 2013, is subject to customary closing conditions. National Bank Financial Inc. is acting as financial advisor to AirBoss, while Davies Ward Phillips & Vineberg LLP is serving as AirBoss' legal counsel. Donnelly Penman & Partners is acting as financial advisor to Flexible Products. Conference Call and Webcast Information AirBoss will host a conference call and a live internet webcast along with a slide presentation on Tuesday, October 1, 2013 at 10 am EDT to discuss the acquisition. Please follow the link on our website or at under webcasts or dial in to the following numbers: 416-340-2216 or Toll Free: 1-866-226-1792. Direct Replay Access number: 1-800-408-3053. About AirBoss of America Corp. AirBoss of America Corp. develops, manufactures, and sells high quality, proprietary rubber-based products offering enhanced performance and productivity to transportation, military and industrial markets. With a capacity to supply over 250 million pounds of rubber annually to a diverse group of rubber manufacturers, AirBoss is also one of North America's largest custom rubber compounding companies. The Corporation's shares trade on the TSX under the symbol BOS. Visit . Forward-Looking Information: Certain statements contained or incorporated by reference herein, including those that express management's expectations or estimates of future developments or AirBoss' future performance, constitute "forward-looking statements" within the meaning of applicable securities laws, and can generally be identified by words such as "will", "may", "could" "expects", "believes", "anticipates", "forecasts", "plans", "intends" or similar expressions. These statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events and performance. Forward-looking statements are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. AirBoss cautions that such forward-looking statements involve known and unknown contingencies, uncertainties and other risks that may cause AirBoss' actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation: impact of general economic conditions; its dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss' ability to maintain existing customers or develop new customers in light of increased competition; changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage caused by it and non-compliance with environmental laws and regulations; potential product liability and warranty claims and equipment malfunction. This list is not exhaustive of the factors that may affect any of AirBoss' forward-looking statements. All of the forward-looking information in this press release is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to AirBoss or persons acting on its behalf are expressly qualified in their entirety by this notice. Forward-looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly these forward-looking statements except as required by applicable laws. Risks and uncertainties about AirBoss's business are more fully discussed in the Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2012 Annual Report to Shareholders under the heading "Risk Factors". Contact Information

Flexible Products Co. Frequently Asked Questions (FAQ)

  • Where is Flexible Products Co.'s headquarters?

    Flexible Products Co.'s headquarters is located at 2600 Auburn Court, Auburn Hills.

  • What is Flexible Products Co.'s latest funding round?

    Flexible Products Co.'s latest funding round is Acquired.

  • Who are the investors of Flexible Products Co.?

    Investors of Flexible Products Co. include AirBoss of America Corp..

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.