Protech Group buys specialty materials business of Dyvex Industries

Montreal-based specialty materials firm Protech Group has acquired the specialty materials business of Dyvex Industries Inc., a compounder headquartered in Carbondale, Pa.

The acquisition was completed on Dec. 30, 2021. The financial terms of the deal have not been disclosed.

Dyvex makes compounds used in fragrance, flavour, and odour control products. The company sells its products globally and is known for its Polyessence and IonicGuard brands.

In a news release, Protech officials said they will “seek to accelerate the growth of the Dyvex Industries product portfolio by expanding market access within its existing sales and distribution channels and leveraging its current and prospect customers within the coatings industry, including thermoset powder, thermoplastics, liquid, and specialty materials.”

“The acquisition of Dyvex Industries will enable the Protech Group to provide further add value to our customers by enhancing our range of specialty material offerings, and expanding our research and development capabilities,” said Protech president David Ades.

The deal is the fifth acquisition that Protech has made since early 2020. Other acquisitions include the thermoset powder coatings business of ACG Industries, in Gondecourt, France; Calgary-based Lynx Thermoset Coating Ltd.; the liquid paints business of Excalibur Paints & Coatings Ltd., in Wichita Falls, Tex.; and Winslow Browning Inc., in Liberty, Ind.