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Epsilyte acquired StyroChem to expand capacity

October 05/2021

MOSCOW (MRC) -- Epsilyte Holdings LLC has acquired StyroChem Canada, Ltd., a leading North American producer of expandable polystyrene (EPS) located in Baie dUrfe, Quebec, from PMC Capital Partners, LLC, said Bloomberg.

Epsilyte is owned by Balmoral Funds and management.

This acquisition creates one of the largest producers of EPS in North America. Epsilyte will now operate three production sites, employ more than 300 associates, and provide customer solutions in more than 20 countries. Epsilyte expects to integrate StyroChem functions and operations into its current organization with minimal impact to StyroChem assets, employees and customers.

"We are thrilled to complete this acquisition and we welcome the StyroChem associates to the Epsilyte team, said Brad Crocker, President and Chief Executive Officer, of Epsilyte. Our advanced materials are already key enablers of carbon neutrality due to their almost unmatched insulative properties. This acquisition further strengthens our ability to enhance our portfolio through StyroChems unique and efficient operational technology enabling us to better serve customers with more sustainable products and true value creation. Mr. Crocker went on to say StyroChem has really benefited from their forward thinking and experienced management team and Im excited to work closely with Glenn Wredenhagen, the President of StyroChem, to build a company of scale that truly cares about our industry, our customers, and our communities."

According to David Shainberg of Balmoral Funds, This acquisition enables Epsilyte to leverage its resources to continue improving its business and expanding its product portfolio. We are excited about the prospects to improve our ESG message and performance based on this exciting combination."

Details of the transaction were not announced.

Earlier it was reported that sales of expandable polystyrene (EPS) in the domestic North American market increased by 18.8% in the first eight months of 2021 compared to the same period last year. Export sales of EPS in the region increased by 13.1%.

According to the MRC's ScanPlast, the total estimated consumption of EPS in August increased by 15% compared to August last year and amounted to 11,650 tonnes. The total production volume of EPS for the reporting month amounted to 8,770 tonnes, a decrease in comparison with August last year amounted to 8%.

Epsilyte is one of North Americas leading producers of advanced materials used in construction, packaging, and safety equipment. We are a company of scale focused on solving customer needs for efficient, highly insulative materials. Our more than 300 employees focus every day on reducing energy usage in buildings; ensuring safe and healthy food through innovative packaging technology; protecting lives with our impact resistant technology; and enabling cost effective and efficient infrastructure investment around the world. Epsilyte is a portfolio company of Balmoral Funds LLC. For more information please visit


mrcplast.com
Author:Anna Larionova
Tags:PS, EPS, GPPS, HIPS, Epsilyte, Styrochem.
Category:General News
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