StyroChem is a manufacturer of expandable polystyrene grades used in foodservice and packaging sectors
Image: PMC Capital Group has acquired StyroChem Canada. Photo: courtesy of Akshay93 from Pixabay.
Private equity firm PMC Capital Group has completed the acquisition of expandable polystyrene (EPS) manufacturer StyroChem Canada from WinCup.
StyroChem is involved in the manufacturing of EPS grades for packaging, food service, construction, casting and speciality applications.
With more than $100m (£82m) of revenue, the firm supplies its EPS products for customers ranging from small businesses to Fortune 500 companies in the US and abroad.
StyroChem food contact grade expandable polystyrenes can be used for moulding thin wall cups and food containers.
The partnership enables StyroChem to operate from its facility in Quebec
StyroChem president Glenn Wredenhagen said: “This partnership with PMC Capital will allow us to continue operating from our facility in Quebec, and most importantly, serving our existing customers and product lines, as well as aggressively pursue growth opportunities, both organically and through future acquisition.”
StyroChem was established as Expandable Technologies in 1975. It expanded the business with the addition of two production facilities in Fort Worth in 1979 and 1981, as well as block and shape grade product lines.
Expandable Technologies was rebranded as Texstyrene in 1983, and it was further expanded with the commencement of Montreal facility operations in 1984.
In 1988, Scott Paper acquired Texstyrene and rebranded it as Scott Polymers. In 1996, Scott Polymers was purchased by a private holding company and named it as StyroChem.
In 2011, StyroChem launched its new EVRgreen product line, an EPS resin with EcoPure technology.
PMC Capital managing member Michel Tamer said: “We are excited to partner with StyroChem’s management team and help lead the business through the next stage of its growth.
“We see significant opportunities to deepen relationships with existing customers through product innovations, including StyroChem’s proprietary EVRgreen EPS, an expandable polystyrene resin that promotes biodegradation, and expand our reach through new customer acquisition.”
Based in Los Angeles of California, PMC Capital focuses on investing in the TMT, consumer, healthcare, business services and industrial sectors. The company has more than 100 years of collective private equity experience.