March 19, 2019 by Canadian Plastics
Polychem Corp., a Mentor, Ohio-based maker of PET and polypropylene strapping, has been acquired by The Sterling Group, a private equity firm based in Houston.
The terms of the deal have not been disclosed.
In a statement, Sterling Group described family-owned Polychem as vertically integrated, operating a PET recycling facility which processes bales of post-consumer PET, converting them for use in Polychem’s strapping extrusion lines and for external sale to consumer packaged goods companies. Polychem also manufactures and sells a variety of securement packaging equipment to complement its consumable offering.
“We look forward to working with Polychem to continue to build on the company’s long history of successfully serving customers with quality products and innovative securement solutions,” said Sterling Group partner Gary Rosenthal.
The Sterling Group has had other acquisitions in the packaging sector, including previous investments in Liqui-Box, Exopack, and Saxco.