Acquisition Of Team Wendy By Avon Rubber p.l.c. Now Closed
$130 million transaction creates global leader in head protection systems for the military and first responder markets
CLEVELAND, Nov. 3, 2020 /PRNewswire/ -- Further to the announcement made on Sept. 9, 2020, the acquisition of Team Wendy, LLC ("Team Wendy") by Avon Rubber p.l.c. ("Avon") (LON: AVON) is now closed.
Team Wendy, a leading U.S. supplier of exceptional head protection systems for military, law enforcement, search and rescue, and adventure markets, now operates as a subsidiary of Avon Protection from the Company's current headquarters in Cleveland, Ohio. Team Wendy continues to be led by its President Jose Rizo-Patron and its six department directors, who all remain in their positions.
Together, Avon Protection and Team Wendy are a global leader in head protection systems for the military and first responder markets, following Avon Protection's acquisition of 3M's ballistic protection business and the Ceradyne brand earlier this year.
"Today we start an exciting new chapter for Team Wendy that will usher in new opportunities for our employees, our customers and our business partners," said Jose Rizo-Patron, president of Team Wendy. "We remain focused on our vision to save lives by providing the best for anyone wearing a helmet."
"The acquisition of Team Wendy is another important strategic step in the transformation of Avon Rubber into a leading provider of life critical personal protection systems," said Paul McDonald, chief executive officer of Avon. "Bringing Team Wendy into the same family with our existing Helmets & Armor business establishes Avon Protection as a global leader in military and first responder helmets, with an enhanced and broader product portfolio with stronger capabilities and routes to market."
About Team Wendy®
Team Wendy is dedicated to providing exceptional head protection systems designed from the inside out for those who risk their lives every day. Founded in 1997, the Cleveland-based company places a strong focus on the prevention of traumatic brain injury (TBI) in honor of the company's namesake Wendy Moore, who died tragically from a TBI following a ski accident. As a leading supplier of helmet systems for military, law enforcement, search and rescue, and adventure sports, Team Wendy is steadfast in its dedication to the pursuit of improving head protection research, design and development, bringing more choice, better technology and reliable customer service to the industry. Learn more at www.TeamWendy.com.
About Avon Rubber p.l.c.
Avon Rubber is an innovative technology group, which designs and produces specialist products to maximize the performance and capabilities of its customers with leading positions in the global respiratory and ballistic protection markets.
Avon Protection is a provider of life critical personal protection systems with leading positions in the global respiratory and ballistic protection markets for the world's militaries and first responders.
As a leading global supplier of helmets, helmet accessories, and helmet liner and retention systems for military and first responder markets, Team Wendy is dedicated to providing exceptional head protection systems, designed from the inside out, for those who risk their lives every day.
SOURCE Team Wendy
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