VICKSBURG, MISS, — Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC, are seeking the immediate sale of their businesses.
“There are some health issues involved, so they’re looking to sell pretty quickly,” said Matt LoCascio, a managing director at Easton, Md.-based Heritage Equity Partners. Farrell and Lambiotte have retained HEP to oversee the sale.
Farrell and Lambiotte founded Polyvulc USA in Vicksburg in 1995. The company injection molds recycled plastics into pier pads — used on support systems for manufactured homes — and Federal Housing Administration-approved wall systems for manufactured houses. It also has a steel reclaiming operation, according to a Polyvulc press release and a page on the HEP website.
Polyvulc Tire Recycling is located in Jackson, Miss., just southwest of downtown, according to Polyvulc. The company shreds whole tires into chips of approximately ¾ to 2 inches in size.
Some of the chips are sold for use as tire-derived fuel or playground fill, Polyvulc said. Other chips go to Polyvulc USA for its steel reclaiming operation or to Winnsboro Tire Recycling as raw material.
Based in Winnsboro, La., Winnsboro Tire Recycling grinds rubber chips into fine-grind powders for various applications including asphalt, athletic fields, roofing and soaker hose, according to Polyvulc.
Winnsboro also shreds whole tires for its own use, with an annual capacity of 40 million pounds, Polyvulc said.
Farrell and Lambiotte are willing to sell the businesses separately or as a package deal, whichever would maximize profits, LoCascio said.
According to the HEP website, the three businesses have combined annual sales of $6.3 million. That includes $1.5 million for Polyvulc USA’s recycled plastics business; $1.2 million for its steel reclaiming business, $1.4 million for Polyvulc Tire Recycling and $2.2 million for Winnsboro Rubber Recycling.
Purchasers of Winnsboro Rubber Recycling may either assume the lease with the City of Winnsboro on the company’s 70,000-sq.-ft. facility on six acres, or else move the equipment elsewhere, the HEP website said.