Zoltek Cos. Inc. of St. Louis has acquired 45 percent of Hardcore Composites Operations LLC of New Castle, Del., from Master Builders Inc., effective May 1. Terms were not disclosed. Zoltek has an option to acquire the remainder of Hardcore within two years. Hardcore management, headed by Chief Executive Officer Scott Hemphill, holds the remaining equity stake. Hemphill was general manager of the business under Beachwood, Ohio-based Master Builders.
"We needed to find a good strategic partner with carbon fiber and the same vision as we have," Hemphill said in a telephone interview.
Hardcore makes engineered composite structures for civil infrastructure applications including bridge decks and marine pilings, fender panels and piers.
Hardcore no longer will license the Seemann Composite Resin Infusion Molding Process, known as Scrimp, for making large composite parts. Instead, it will focus on vacuum-assisted resin transfer molding.
Hardcore Composites employs 50 technicians, 24 engineers and occupies a leased, 108,000-square-foot facility in New Castle.