Epsilyte acquires StyroChem to expand capacity and customer solutions
1 October 2021 – Epsilyte Holdings LLC, a leading provider of advanced materials for building insulation, cold-chain packaging, and personal safety equipment has acquired StyroChem Canada, Ltd., a leading North American producer of expandable polystyrene (EPS) located in Baie d’Urfe, Quebec. 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, StyroChem President, to build a company of scale that truly cares about our industry, our customers, and our communities.”
According to David Shainberg, a Managing Director at 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 prospect of improving our ESG message and performance based on this exciting combination.”
Details of the transaction were not announced.
About Epsilyte
Epsilyte is one of North America’s leading producers of expandable polystyrene resin. We are a company of scale focused on solving customer needs for efficient, high-R value EPS. This includes reducing energy usage in buildings, ensuring safe and healthy food through innovative packaging technology, and participating in infrastructure investment both in the United States and abroad. Epsilyte is a portfolio company of Balmoral Funds LLC.
About Balmoral Funds
Balmoral is a Los Angeles, CA based private equity fund, founded in 2005, with approximately $500 million of assets under management. Balmoral partners with talented, aligned and committed management teams to invest in and revitalize companies. Balmoral typically invests in companies that have revenues between $30 to $500 million and require equity investments of $10 to $60 million.
For more information please visit: www.balmoralfunds.com
Or contact: Travis Haynes, [email protected], 310-473-3065