Metapoint Partners LP of Peabody, Mass., recently purchased Nylon Corp. of America (Nycoa), a resin maker and compounder in Manchester, N.H.
Metapoint, a private equity firm specializing in small manufacturing businesses, acquired a majority stake in Nycoa in mid-February from Rhodia SA and Snia SpA, European firms that had operated Nycoa as a 50-50 joint venture. No purchase price was disclosed in the deal.
New Nycoa President and Chief Executive Officer Peter Shepard now owns a minority stake in the firm, as do several existing managers. Shepard previously had worked in inkjet colorants and pigments for Cabot Corp.
In a March 22 telephone interview, Shepard said Nycoa will continue to serve its high-volume wire and cable accounts, but ``will see a much more intense focus on specialty nylon.''
``Our specialty ability in nylon 6 and copolymers and alloys has been underused,'' Shepard said. ``It really hasn't been paid much attention to in the last couple of years.''
Opportunities for specialty nylons exist in monofilament, tubing, profile extrusions, film and sheet and other markets, according to Shepard. Nycoa also plans to add to its sales staff in 2004 and may increase capacity through streamlining by the end of the year, he said. The site currently has annual capacity of 25 million pounds.
Nycoa employs 60 at the Manchester site, which was built in the 1950s by Foster-Grant Corp. The business has annual sales of about $25 million.