Bengur Bryan Advises Rowe Industries on the sale of its Silicone Tape Business to Seal It Services, Inc.

Bengur Bryan advised Rowe Industries on its sale of its Silicone Tape business to Seal It Services, Inc., a subsidiary of the UK based Seal It Services Limited which is a subsidiary of Astral Poly Technik Ltd, India. The sale included Rowe’s Silicone ER Tape, first used by the US Military, an award-winning silicone repair tape for emergencies and all-purpose repairs. ER Tape creates an air-tight, waterproof seal in seconds. ER Tape has 950 psi tensile strength, insulates 8,000 volts per layer, and withstands temperatures up to 500° Fahrenheit.

Seal It Services purchased the ER Tape brand and associated production plant, as well as exclusive manufacturing rights. This transaction facilitates Seal It Services’ entry into the US market and provides it with a lucrative product line addition for its international markets.

Bengur Bryan advised and negotiated the terms of the transaction on behalf of Rowe Industries with Seal It Services and Astral Poly Technik. Bengur Bryan’s senior bankers were involved in all steps of the transaction from the initial meetings through closing. The work included site visits, due diligence, interacting with the purchaser’s accounting advisors, negotiating the purchase price, reviewing and finalizing terms of the purchase agreement with the buyer’s and seller’s legal teams.

About Rowe Industries

Rowe Industries is also the leader in the manufacture of high voltage silicone wire for the US market. Rowe designs, manufactures, and tests its own silicone rubber compounds in-house, allowing complete control over material quality.

About Seal It Services

In 2014, Seal It Services established a joint venture agreement with Astral Poly Technik Ltd – an Indian PLC and one of that country’s fastest growing manufacturers of pipes and piping systems. This partnership has enabled the company to further its aggressive plans for expansion on a truly global scale. For almost two decades, the company has been a manufacturer of high performance, high quality building chemicals such as sealants, adhesives, grouts, cleaners, expanding foams, fillers, decorating sundries and other similar products.

About Astral Poly Tecknik LTD

Astral Poly Technik Limited (BSE: 532830 | NSE: ASTRAL) was established in 1999 with a single-minded purpose to manufacture absolutely the best plumbing & drainage system in India. Astral today manufactures CPVC plumbing systems for both residential and industrial applications, and also ASTM solvent weld lead free PVC plumbing systems.