Epsilyte Holdings has acquired StyroChem Canada, a Baie d’Urfe, Quebec-based producer of expandable polystyrene, from PMC Capital Partners. No financial terms were disclosed. PMC bought StyroChem in 2019. Epsilyte, a Woodlands, Texas-based provider of advanced materials for building insulation, cold-chain packaging and personal safety equipment, is backed by Balmoral Funds.
THE WOODLANDS, Texas–(BUSINESS WIRE)–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, from PMC Capital Partners, LLC . 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, the President of StyroChem, to build a company of scale that truly cares about our industry, our customers, and our communities.”
According to David Shainberg of 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 prospects to improve our ESG message and performance based on this exciting combination.”
Details of the transaction were not announced.
Epsilyte is one of North America’s leading producers of advanced materials used in construction, packaging, and safety equipment. We are a company of scale focused on solving customer needs for efficient, highly insulative materials. Our more than 300 employees focus every day on reducing energy usage in buildings; ensuring safe and healthy food through innovative packaging technology; protecting lives with our impact resistant technology; and enabling cost effective and efficient infrastructure investment around the world. Epsilyte is a portfolio company of Balmoral Funds LLC. For more information please visit www.epsilyte.com.
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.
About PMC Capital Partners, LLC
Established in 2019, PMC Capital is on the path of becoming one of the fastest-growing private equity firms that invests in strategic opportunities where thought, operational resources, and flexible capital can empower management teams to execute their business plans. PMC Capital currently owns and operates a portfolio of high-quality national and international businesses in the lower middle-market space, employing nearly 1,000 employees, with approximately $450M in combined annual revenues. With over 100 years of collective private equity experience, PMC Capital brings a successful track record of executing corporate carve-outs, recapitalizing balance sheets, acquiring founder-owned companies and completing bolt-ons. With a committed pool of capital backed by a family office, PMC Capital targets control equity investment opportunities in the business services, industrials, TMT, consumer, and health care sectors. The nature of PMC Capital’s platform allows for a longer-term time horizon and a business-friendly approach to ownership transitions, divestitures, and successions. The firm is headquartered in Los Angeles, California. For more information, please visit www.pmccapital.com.