Boyd Corp. has closed a deal for the Solimide Foam business of Evonik Industries for an undisclosed amount.
The Solimide business manufactures a flexible foam product for thermal and acoustic insulation products. The Magnolia, Arkansas-based business also has operations in Allen, Texas. The unit will operate as a division of Boyd.
Boyd, headquartered in Modesto, California, makes engineered energy-management and sealing products. The company says the acquisition should help it expand in the commercial aerospace, defense and building infrastructure markets. Boyd has manufacturing and design hubs in the U.S., Europe and Asia.
The company also recently acquired the precision die-cut business of Brady Corp. (NYSE: BRC), in August.
The deal comes as M&A is expected to pick up in the manufacturing sector, according to Mergers & Acquisitions Mid-Market Pulse.