Recycling compounder Canuck Compounders bought by Montreal’s NanoXplore
The deal aims to expand graphene supplier NanoXplore's downstream, value-added product offering.
Cambridge, Ont.-based recycling compounder Canuck Compounders Inc. has been acquired by graphene supplier NanoXplore Inc., of Montreal, for $9.3 million.
Canuck Compounders provides sustainable and engineered recycled plastic compounds for use in transportation, building and construction, agriculture and packaging markets. The company’s Cambridge manufacturing facility has a production capacity of approximately 40 million pounds annually.
In a Dec. 16 news release, NanoXplore CEO Soroush Nazarpour described the acquisition as being “strategically aligned with our growth initiatives and significantly increases our graphene compounding capability, especially in recycled plastics.”
Canuck Compounders has a “strong relationship with recycled plastic suppliers” that ensures a smooth and reliable supply of post-consumer and post-industrial recycled plastics, Nazarpour continued. “This transaction will enhance our technical expertise in recycled plastic compounds and bolster our top-line by approximately $20 million annually, without considering revenues derived from graphene inclusion,” he said.
Officials with NanoXplore added that the firm is seeking to expand its downstream, value-added product offering through enhanced masterbatch and compounds, pastes, battery materials, formulated thermoset resins and cement admixtures.
Canuck Compounders founder and CEO William Dickinson will continue in a role as general manager, the news release said, along with about 40 employees.
“We are delighted to join forces with NanoXplore, given the inherent technological and cultural fit between the two companies,” Dickinson said. “Graphene from NanoXplore is highly complementary with our recycled plastic compounds to create innovative solutions like enhanced masterbatch and mixtures, while both management teams are dedicated to delivering best-in-class products across a broad number of growth industries.”