Altor Solutions (“Altor”), Altor’s acquisition of Foam Concepts strengthens its position as a leading provider of packaging
Compass Diversified-Backed Altor Solutions Announces Acquisition of Foam Concepts. (Credit: Gerd Altmann from Pixabay)
Altor Solutions (“Altor”), a subsidiary of Compass Diversified (NYSE: CODI) and a leading designer and manufacturer of custom protective packaging solutions and componentry, today announced that it has acquired Foam Concepts, Inc. (“Foam Concepts”). Financial terms of the transaction were not disclosed.
Altor’s acquisition of Foam Concepts strengthens its position as a leading provider of packaging and componentry solutions. Founded in 1986 and headquartered in Uxbridge, Massachusetts, Foam Concepts is a manufacturer of expanded polystyrene (EPS) foam products for the cold chain, protective packaging and construction end-markets. With the addition of Foam Concepts and its facility, Altor will operate 19 manufacturing facilities across the United States to help customers solve their Packaging, Insulation and Componentry (PIC) needs.
“We are confident this is another key milestone as Altor continues its growth trajectory as one of the leading providers of customer packaging solutions,” said James Hughes, CEO of Altor. “Foam Concepts is a natural, complimentary fit for Altor, as we continue to pursue our consolidation strategy. With its strategically located facility in the Northeast, we believe the addition of Foam Concepts will further expand our customer base, especially in the cold-chain end-market, while improving profitability and efficiency. We look forward to welcoming Foam Concepts to our team and are poised to continue delivering for our collective customer base as we deliver on our strategic objectives to offer the best packaging solutions for our customers.”
“We are excited for Foam Concepts to join forces with an industry leader like Altor,” said Philip Michaelson and Mark Villamaino, co-owners of Foam Concepts. “For over 25 years, we have taken great pride in providing high quality products for our customers and we look forward to continuing to deliver on our customer-driven approach benefiting from Altor’s resources and capabilities.”
Headquartered in Scottsdale, AZ, Altor Solutions is a dynamic, engineering-driven company whose goal is to design and produce superior products that help customers solve their needs for Packaging, Insulation and Componentry (PIC).
The company offers a wide range of materials from traditional plastics to organic and plant-based options. Founded in 1957, the company operates 19 state-of-the-art facilities across North America specializing in the production and assembly of key components utilized in protective packaging, OEM componentry and temperature-controlled containers.
Source: Company Press Release