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Topics Materials Mergers & Acquisitions Materials Suppliers
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Materials maker Teknor Apex Co. has expanded its PVC compounding business by acquiring Viking Polymers LLC for an undisclosed price.
Viking operates a 50 million pound-capacity compounding plant at its headquarters site in Jamestown, N.C. Pawtucket, R.I.-based Teknor Apex is buying Viking from John Ammondson, who founded the firm in 1994.
Viking employs about 75 and makes custom PVC compounds - with a focus on chlorinated PVC – as well as acrylic-based materials. Its materials are sold into rigid PVC applications in the building and construction market and elsewhere.
In a Feb. 3 news release, Teknor Apex Vice President Louis Cappucci said that acquiring Viking "adds substantially to our rigid PVC capabilities and represents a natural extension of our product portfolio into weatherable capstocks, CPVC compounds, and other specialties for the fast-growing building and construction market."
According to Teknor Apex officials, chief applications for CPVC include hot and cold potable water systems and industrial piping. Viking's PVC, ASA, acrylic and alloys are custom formulated for applications such as house siding, windows, decks, railings, rainwater systems, and fences.
In the release, Ammondson said that weatherable compounds developed by Viking "make possible dark and wood-toned colors that withstand prolonged outdoor exposure." Ammondson will remain with Teknor for a year as a consultant.
Cappucci said in a Feb. 5 phone interview that Teknor and Viking didn’t compete much against each other, with the exception of a few accounts. He added that Viking’s product mix is split roughly evenly between CPVC, PVC and acrylic-based products.
The deal is the first for Teknor since 2010, when it bought the Sarlink-brand thermoplastic vulcanizate business from Royal DSM NV. Cappucci said that Teknor may continue to look for further acquisitions. He added that Teknor also will look at making Viking products at some existing Teknor plants.
Teknor Apex ranks as one of North America's 30 largest compounders and concentrate makers, according to a Plastics News estimate, with annual sales of more than $600 million.
Cary Street Partners LLC represented Viking in the deal.