PE-backed PSC Group buys TSI

PSC Group, a portfolio company of Aurora Capital Partners, has acquired Thermoplastics Services Inc, a Louisiana-based plastic custom compounding and pelletizing business. No financial terms were disclosed.

PRESS RELEASE

PASADENA, Texas and BATON ROUGE, La., March 24, 2022 /PRNewswire/ — PSC Group (“PSC”), a North American leader in product handling, site logistics, railcar repair and sustainability services for the petrochemical, refining and marine industries, announced today that it has acquired Thermoplastics Services, Inc. (“TSI”).

“Over the last 70 years, PSC has expanded its service offerings in response to the evolving needs of our customers. In the last 12 months, PSC has made strategic investments in human capital, equipment and M&A to establish a leading plastic resin sustainability offering. Today’s leading petrochemical producers are increasingly committed to environmental stewardship and sustainability, and the acquisition of TSI provides the capabilities and scale needed to further establish PSC as the comprehensive sustainability solutions provider across the industry,” said Joel Dickerson, CEO of PSC Group. “The TSI acquisition reinforces PSC’s focus on providing ESG solutions to our customers and supporting our customers’ Operation Clean Sweep® (“OCS”) initiatives while reprocessing and repurposing scrap plastic into products used every day.”

“This partnership will provide broader access to PSC’s blue chip customer base and rapidly expand our industry-leading sustainability solutions,” said Ashley Wade, President of TSI. “We look forward to bringing our specialized technology to PSC’s existing high-quality service offerings and supporting our customers’ goals of an increasingly circular economy across the plastics industry.”

As a “blue level” member of the Plastics Industry Association’s Operation Clean Sweep® (“OCS”) program, PSC offers comprehensive sustainability services to help customers with Clean Sweep compliance and post-production recycling.

This acquisition marks PSC’s second sustainability acquisition following the December 2021 acquisition of Akrotex Extrusion and Recycling (“Akrotex”). Akrotex is a plastic custom compounding and pelletizing business based in Orange, TX.

About Thermoplastics Services
Thermoplastics Services, Inc. is a plastic custom compounding and pelletizing business based in Dequincy, LA. TSI reprocesses scrap resins into custom compounds that are sold to domestic and international customers for industrial, commercial, and municipal applications.

About PSC Group
For 70 years, PSC Group (formerly operating as Petroleum Service Corporation) has been committed to safely and efficiently meeting the product handling and site logistics needs of leading companies in the refining, chemical, and marine industries. The company’s 4,000+ employees serve at more than 150 refineries, terminals, and chemical plants across the U.S., providing expertise in tankering barges, operating terminals and docks, railcar repair and switching, warehousing, and loading/unloading of railcars and trucks with a variety of oil products, plastics, and chemicals. PSC also offers an array of sustainability and vacuum truck services to support plastics producers with Operation Clean Sweep compliance. For more information about PSC Group, visit www.pscgroup.com.

About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com