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  • Saturday, November 23, 2024

Avon Rubber Closes $130M Buy of Helmet Supplier Team Wendy

Avon Rubber has completed its acquisition of Cleveland, Ohio-based helmet manufacturer Team Wendy for $130M to help drive the former’s efforts in the protective equipment industry.

Avon Rubber said Tuesday that Team Wendy will operate as a subsidiary of the former's Avon Protection business as part of the transaction.

Jose Rizo-Patron, president of Team Wendy, will continue leading the company along with its six department directors.

Paul McDonald, CEO of Avon Rubber, said that integrating Team Wendy into its existing helmets and armor business will help expand Avon Protection’s footprint as a helmet supplier for first responders and military customers.

The recent acquisition builds on Avon Protection's prior purchase of Ceradyne and 3M’s (NYSE: MMM) ballistic protection segment this year.

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