Epsilyte acquires EPS maker StyroChem Canada
Texas-based Epsilyte says the deal creates one of the largest producers of EPS in North America.
In a deal that aims to create one of the largest producers of expandable polystyrene (EPS) in North America, material supplier Epsilyte Holdings LLC has acquired StyroChem Canada Ltd., a Quebec-based EPS producer, from PMC Capital Partners LLC.
The financial terms of the deal were not disclosed.
StyroChem’s headquarters is in Baie d’Urfe, Quebec, and the company makes EPS used in the packaging, food service and construction markets. Epsilyte, based in The Woodlands, Texas, is owned by Los Angeles-based private equity investment firm Balmoral Funds LLC and management.
Epsilyte will now operate three production sites, employ more than 300 associates, and operate in more than 20 countries. In a news release, Epsilyte officials say they expect to integrate StyroChem functions and operations into Epsilyte’s current organization “with minimal impact to StyroChem assets, employees and customers.”
“Our advanced materials are already key enablers of carbon neutrality due to their almost unmatched insulative properties,” said Epsilyte president and CEO Brad Crocker. “This acquisition further strengthens our ability to enhance our portfolio through StyroChem’s unique and efficient operational technology enabling us to better serve customers with more sustainable products and true value creation.”