Aurora Plastics merges with Enviroplas
The deal marks Aurora Plastics' launch of an engineered polymers business segment.
In a move that puts it in the engineered polymers business segment, material supplier Aurora Plastics LLC has announced a merger with Enviroplas Inc., an engineering compounding business, in partnership with Enviroplas management.
“Enviroplas brings an exciting platform expansion in a near-product adjacency with meaningful synergies,” Darrell Hughes, CEO of Streetsboro, Ohio-based Aurora Plastics, said in an Oct. 6 statement. “We are excited to partner with the Enviroplas leadership team to drive continued growth.”
Jim Stratman, founder and CEO of Enviroplas, will remain a “substantial shareholder” and continue to lead as president of Enviroplas, which is now the engineered polymers business of Aurora Plastics, the statement continued. Enviroplas’ leadership team and employee base will continue in their current roles.
“We completed extensive research of the market and growth opportunities prior to initiating this merger,” Hughes said. “Jim and his leadership team have dramatically accelerated the company’s growth by leveraging their deep industry knowledge, operating rigor, and results focus.”
Enviroplas was founded by Stratman in 1992 and operates out of two sites in Evansville, Ind. “There are tremendous cultural similarities between Aurora Plastics and Enviroplas,” Stratman said. “Most important of these is the focus on customer intimacy and partnership, enabling the continued growth of Aurora’s engineered compounds and vinyl specialties businesses.”
The combined company offers a broad range of custom compounding capabilities and technologies, the statement continued, including engineered polymers, PVC compounds, thermoplastic elastomers, and other specialty compounds.