Hot 100-ranked rubber products manufacturer acquired by group

Plastic and Rubber Group (PAR), which ranked as the 10th most profitable SME in this magazine's most recent Hot 100 report, has been acquired by a fellow Lancashire business.

R&G Fluid Power Group (R&G), based in Preston and part of Diploma plc, completed the purchase for an undisclosed sum.

PAR, a family-owned business for more than 40 years, is based in Chorley with additional premises in Manchester. It provides bespoke services including plastic machining, plastic fabrication, waterjet cutting, CNC profile cutting, industrial stitching and rubber moulding.

These services allow PAR to manufacture products such as gaskets, rubber mouldings and precision-engineered and fabricated components. In addition to its bespoke engineering capabilities, PAR also stocks and distributes an extensive range of hoses and fittings which complement the core offering of R&G Fluid Power Group.

Established in 2017, R&G has 40 UK divisions providing bespoke engineering, gaskets & seals, hose & couplings, hydraulics and pneumatics. Diploma is an international distributor of specialised products and services in the controls, seals, and life sciences sectors. 

PAR will form part of Diploma’s UK aftermarket business in the seals sector, adding scale to R&G's Seal & Gaskets division. As with all R&G businesses, PAR will continue to operate under its current brand and existing locations.

The PAR directors will continue to lead the PAR business and work with their new colleagues at R&G to help develop and integrate PAR with R&Gs existing plastics and rubber businesses.

The PAR directors said: "We have developed our company over the past 20 years, strategically investing in employees, systems, machinery, facilities, and developing engineering expertise. Becoming part of R&G Fluid Power Group gives assurance and enables accelerated growth, providing opportunities and security for our company and all PAR staff for the future."

Accountants and business advisors Beever and Struthers advised on the sale, led by corporate finance director Dean Curtis and executive partner Caroline Monk, with support from corporate finance manager Patrick Wilson, tax partner Ann Bibby and tax manager Simon Barratt. 

Dean Curtis, corporate finance director at Beever and Struthers, added: "PAR’s expertise, customer proposition and reputation complement and enhance R&Gs existing capabilities, it’s a fantastic addition to the R&G Group. We look forward to seeing the business grow and flourish as part of the larger group.”