3M Company acquires Innovative Paper Technologies LLC and Powell LLC

3M Company acquired Innovative Paper Technologies LLC and Powell LLC, a transaction announced in April 2007, structured as Business acquisition (terms not disclosed).

Innovative Paper Technologies LLC and Powell LLC operates in Electro & Communications (Electrical Markets), is based in United States. Innovative Paper Technologies (IPT) makes inorganic-based technical papers, boards and laminates for high-temperature applications, and Powell supplies non-woven polyester mats for the electrical industry; both were owned by holding company OS Partners and employed about 90 people in Tilton, N.H. and Haverhill, Mass. 3M acquired the businesses to enter the adjacent flexible-insulation-materials market serving motor, transformer, appliance and wire/cable makers.

Broadens 3M's electrical product line and expands into flexible insulation materials for electrical insulation and thermal transfer.

Advisory firms were not disclosed for this transaction.

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