Epsilyte acquires compounded EPS producer Polysource
Epsilyte, a provider of expandable polystyrene resin, has acquired Polysource, a producer of compounded expandable polystyrene (EPS) and molded products used in building insulation, filtration media, and personal safety equipment.
The financial terms of the deal were not revealed.
Epsilyte is a portfolio company of Balmoral Funds, a California-based private equity fund.
David Shainberg of Balmoral Funds said: “This acquisition enables Epsilyte to leverage its resources to continue improving its business and expanding its product portfolio. We are excited about the prospects of the Compounded EPS business unit.”
By adding Polysource, Epsilyte will operate two distinct business divisions – EPS, which is made up largely of the heritage Epsilyte business, and the newly created Compounded EPS unit, which is comprised mostly of the heritage Polysource business.
Headquartered in Piqua, Ohio with nearly 90 associates, Polysource sells compounded expandable polystyrene and molded products to customers in more than 15 countries.
Brad Crocker – President and CEO of Epsilyte said: “EPS is already a key enabler of carbon neutrality due to its almost unmatched insulative properties. This acquisition further strengthens our ability to enhance performance of our products through Polysource’s unique and efficient extrusion technology enabling us to better serve customers with more sustainable products and true value creation.”
As part of the deal, Polysource’s founding partner and chairman – Erik Wehtje will continue to advise in technical as well as commercial areas.