Gabriel Performance Products, a specialty chemicals company based in Ashtabula, Ohio, announced it has acquired InChem Corp.'s proprietary Phenoxy Resin business in Rock Hill, S.C.
The South Carolina operation will serve as Gabriel's second production plant. Terms of the deal were not disclosed.
Seth Tomasch, CEO of Gabriel Performance Products, said in a news release that the acquisition “is a significant milestone in Gabriel's strategy to expand our specialty, proprietary product offering within the coatings, adhesives, sealants and elastomers (CASE) markets.” He added that the purchase “expands our research and development, laboratory, technical, production and commercial capabilities.”
The Phenoxy Resin product line includes solid resins in pellet and powder form, waterborne and solvent solutions, according to the release. It's sold directly and through distributors to customers in the United States, Europe and Asia.
Steve Crownshaw, president of InChem, said in the release, “We are excited to see Gabriel and the Phenoxy business come together, enabling the Phenoxy business to accelerate growth through Gabriel's focus on the CASE market and allowing the InChem organization to execute its strategy of providing toll and custom manufacturing solutions to the marketplace.”