UK-based Essentra plc acquired Schaumburg, IL-based Innovative Components Inc., which manufactures and distributes knobs, wire lanyard and pins in North America.

Essentra, listed on the London Stock Exchange, is a global manufacturer and distributor of plastic and metal components. With operating units in 29 countries, Essentra’s Components division serves a broad customer base with a rapid supply of products for a variety of applications, in industries such as equipment manufacturing, automotive, fabrication, electronics and construction.

The Innovative Components business will form part of Essentra’s Components division.

Essentra CEO Paul Forman said the acquisition “is an important development for Essentra and meets a number of the strategic objectives for our Components business. As a leading provider of knobs, pins and handles, Innovative Components builds on our product offering in the US, provides range extension opportunities in Europe and Asia and adds attractive low-cost manufacturing capability in Costa Rica.”

Founded in 1992 by Mike O’Connor, Innovative Components employs 130 people at two sites in the US and Costa Rica. Web: innovative-components.com and essentracomponens.com