Avon Rubber has announced it has signed an agreement to acquire 3M’s ballistic protection business, and the rights to the Ceadyne brand for an initial cash consideration of approximately $91 million.
Avon, which employs 280 people, had sales of $85 million last year, and supplies riot gear to the Met Police.
Paul McDonald, CEO of Avon Rubber, said: “The acquisition of 3M’s ballistic protection business is an important strategic step for Avon Protection.”
“It is a high quality business, backed by proprietary technology, established contract platforms, and well invested manufacturing operations. The combination will significantly strengthen our technology and our personal protection product offering to an enlarged customer base, thereby accelerating the long-term growth prospects for the Group.”