Trelleborg Group, a provider of engineered polymer services, has bought Minnesota Rubber and Plastics, a provider of materials science-based elastomer and thermoplastics services, from KKR.

In its time under KKR’s ownership, MRP has made progress in driving growth and operational excellence. The firm has constructed a new global innovation center, enhanced manufacturing facilities, and invested in new capital.

“Today’s announcement is the culmination of a lot of hard work by our dedicated employees and KKR’s shared ownership model has allowed all MRP colleagues to share in this success,” said Jay Ward, CEO of MRP. “Joining Trelleborg is an exciting opportunity to expand our global reach while we continue to fulfill our commitments to delivering excellence and innovation for our customers.”

KKR and MRP were advised by Houlihan Lokey as financial and M&A advisor, and Kirkland & Ellis as legal advisor on the transaction.