Epsilyte Holdings LLC, a leading provider of advanced materials has acquired StyroChem Canada, Ltd., a leading North American producer of expandable polystyrene (EPS) located in Baie d’Urfe, Quebec, from PMC Capital Partners, LLC.
Details of the transaction were not announced.
Epsilyte is owned by Balmoral Funds and management.
This acquisition creates one of the largest producers of EPS in North America. Epsilyte will now operate three production sites, employ more than 300 associates, and provide customer solutions in more than 20 countries. Epsilyte expects to integrate StyroChem functions and operations into its current organization with minimal impact to StyroChem assets, employees and customers.
“We are thrilled to complete this acquisition and we welcome the StyroChem associates to the Epsilyte team,” said Brad Crocker, President and Chief Executive Officer, of Epsilyte. “Our advanced materials are already key enablers of carbon neutrality due to their almost unmatched insulative properties. This acquisition further strengthens our ability to enhance our portfolio through StyroChem’s unique and efficient operational technology enabling us to better serve customers with more sustainable products and true value creation.”
Mr. Crocker went on to say “StyroChem has really benefited from their forward thinking and experienced management team and I’m excited to work closely with Glenn Wredenhagen, the President of StyroChem, to build a company of scale that truly cares about our industry, our customers, and our communities.”
According to David Shainberg of Balmoral Funds, “This acquisition enables Epsilyte to leverage its resources to continue improving its business and expanding its product portfolio. We are excited about the prospects to improve our ESG message and performance based on this exciting combination.”