3M closes $25.5MM acquisition of MTI PolyFab division
Written by Jennifer James on June 12, 2010 – 7:14 am
This just hit the newswire:
Wellington Financial LP today announced that Wellington Financial Fund III portfolio company MTI Global Inc. (MTI:TSX) has sold its MTI PolyFab subsidiary to 3M of St. Paul, Minnesota (MMM:NYSE) for $25.5 million in cash.
In June 2008, Wellington Financial led a $7.0 million financing for MTI Global. MTI designs, develops and manufactures custom-engineered products using silicone and other cellular materials. MTI serves a variety of specialty markets focused on Aerospace and Fabricated Products.
(disclosure – Fund III owns shares in MTI)
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Tags: Mti Polyfab, Polyfab
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