M&As: PMC completes acquisition of StyroChem Canada; Ipex acquires pipe maker

US-based private equity firm PMC Capital Group has completed the acquisition of StyroChem Canada from WinCup, a manufacturer of disposable foodservice products. StyroChem is a manufacturer of expandable polystyrene (EPS) grades used in food service, packaging, construction, casting and specialty applications with over US$100 million of revenue.

Glenn Wredenhagen, President of StyroChem, 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."

Founded in 1975, StyroChem was one of the first manufacturers of EPS for food service applications. StyroChem also markets its proprietary EVRgreen EPS, a biodegradable EPS.

Meanwhile in other news, US subsidiary of Belgium-based Aliaxis, Ipex, has acquired a family-owned business, Silver-Line Plastics, a US manufacturer of plastic pipe products with production facilities in Asheville, North Carolina; Lawton, Oklahoma; and Fort Pierce, Florida. With this acquisition, Ipex, also a pipe systems manufacturer, says it will increase its market position in the US with an expanded product portfolio serving a broader client base.

“Like Ipex, Silver-Line has a strong reputation in the marketplace for being customer focused and supplying high quality products. This acquisition will significantly contribute to our growth objectives in the US”, says Alex Mestres, Ipex CEO.

The sale is subject to regulatory approval. Both parties agree not to disclose the price and terms of the deal, and anticipate a completion of the transaction over the coming weeks.

Ipex provides a comprehensive range of thermoplastic piping systems to North American customers in the municipal, irrigation, plumbing, mechanical, electrical and telecommunication sectors. Ipex has manufacturing facilities and distribution centres across North America. Brussels-headquartered Aliaxis also provides advanced plastic piping systems for building, infrastructure, industrial and agriculture applications.

(PRA)

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