A subsidiary of Manchester filtration-products and specialty fibers maker Lydall Inc. on Wednesday announced it acquired a segment of a Mass.-based gasket-materials producer.
Officials said Lydall Performance Materials Inc. purchased a gasket materials business on Monday from Hollingsworth & Vose Co., of East Walpole, Mass., for an undisclosed amount.
The deal was funded by cash, Lydall said.
Monday’s acquisition builds on Lydall’s $265 million cash purchase in September of a Pennsylvania gaskets maker.
Lydall expects to fully integrate the Mass.-based manufacturer during the second quarter this year.
“It coincides perfectly with our strategy of continuing to grow our market share in the sealing market with high-quality products,” said Paul A. Marold, president of Lydall Performance Materials.
