Industrial technology company EnPro sells its polymer components business
The new owner, Edgewater Capital Partners, will rename the organization Altamira Material Solutions.
Industrial technology company EnPro Industries Inc. has sold its polymer components business to Edgewater Capital Partners, a private investment firm focused on performance materials, based in Cleveland, Ohio.
The financial terms of the deal were not disclosed.
The polymer components business is headquartered in Houston, Tex., with two production facilities in Texas and a smaller site in Pennsylvania. Under Edgewater ownership, the organization will be renamed Altamira Material Solutions.
“We are very appreciative of our colleagues’ dedication to producing high-quality products and providing reliable service that our customers have come to expect,” said Eric Vaillancourt, interim president and CEO of Enpro. “We wish for their continued success as they move forward as Altamira with Edgewater’s support.”
The polymer components business unit was part of Enpro’s Sealing Technologies segment. Revenue in the first half of 2021 was approximately US$20 million.