MOSCOW (MRC) -- Epsilyte Holdings LLC ((The Woodlands, Texas), a leading provider of expandable polystyrene (EPS), services, and solutions has acquired Polysource Inc., a leading producer of compounded EPS and molded products used in building insulation, personal safety equipment, and filtration media, according to BusinessWire.
With the acquisition of Polysource, Epsilyte will operate two distinct business units: “EPS,” largely made up of the heritage Epsilyte business, and the newly formed “Compounded EPS” unit, which is mostly comprised of the heritage Polysource business based in Piqua, OH with approximately 90 associates. Polysource currently sells compounded EPS and molded products to customers in over 15 countries.
“We are thrilled to complete this acquisition and we welcome the Polysource associates to the Epsilyte team,” said Brad Crocker, President and Chief Executive Officer, of Epsilyte. “EPS is already a key enabler of carbon neutrality due to its almost unmatched insulative properties. This acquisition further strengthens our ability to enhance performance of our products through Polysource’s unique and efficient extrusion technology enabling us to better serve customers with more sustainable products and true value creation.”
Details of the transaction were not announced.
EPS is a rigid form of polystyrene (PS) used in insulation foams for the construction industry as well as for packaging.
According to ICIS-MRC Price report, April EPS imports into Russia were 1,010 tonnes versus 1,330 tonnes a month earlier and 1,020 tonnes in April 2020. EPS imports dropped by 5% year on year in January-April 2021: from 5,300 tonnes to 5,000 tonnes.
Epsilyte, owned by the private-equity firm Balmoral Partners, is one of North America’s leading producers of expandable polystyrene resin. It created Epsilyte after it bought Flint Hills Resource's EPS business in Peru, Illinois.
Major North American producers of EPS include Styropek, EPSilyte, Styrochem, Nexkemia and Dart Polymers.
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