Date
Oct 2015
Region
Minnesota
Generational Capital Markets, Inc., member FINRA/SIPC, ("GCM") an advisor to privately-held businesses for mergers & acquisitions, is pleased to announce the acquisition of its client, (Stern), headquartered in Staples, Minnesota, by Zhongli North America, Inc. (Zhongli), headquartered in Shanghai, China.
The acquisition closed on October 26, 2015. Stern was founded in 1969 as a manufacturer of compression, injection and transfer molded products, as well as extruded rubber products. Stern specializes in bonding rubber to plastic, metal, and other materials. Industries served are extremely diverse and include: industrial plumbing, power sports, agricultural, and many others. To learn more, visit www.sternrubber.com.
Robert Jackson, Operation Manager for Stern, states, "This is going to be a good fit for Stern. The opportunity to take advantage of the synergies from both companies is exciting." Managing Director Chris Heckert was the GCM M&A advisor for Stern throughout the transaction. Mr. Heckert adds, "This is an exciting acquisition for both companies and will bring additional opportunities and jobs to the local area." Zhongli was founded in Shanghai, China in 1998 to provide manufacturing, R&D, sales, and design, focusing on components, vehicle, and assembly parts. Products include: chassis components, plastic parts, powertrain mounts, suspension assemblies, bumping blocks and other rubber bumper components. To learn more, visit www.zlcglobal.com.
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