Materials firm Americhem Group has acquired Vi-Chem Corp., a compounder based in Grand Rapids, Mich.
It's the third acquisition in four years for Cuyahoga Falls, Ohio-based Americhem. No purchase price was disclosed in the deal, which was completed on March 18.
“Vi-Chem brings us extensive knowledge in TPEs [thermoplastic elastomers] and PVC compounds,” Americhem CEO Rick Juve said in a March 22 phone interview. “This broadens the types of compounds and material solutions we can provide to the market.”
Vi-Chem employs 85 at a 170,000-square-foot plant in Grand Rapids. The firm generates 90 percent of its annual sales from the automotive market. No annual sales total was available, but Juve said the acquisition will push Americhem's total annual sales close to $300 million.
The product mix at Vi-Chem is evenly split between PVC and TPE compounds. Americhem has done work in PVC masterbatch concentrates, but not in compounding, Juve said. The firm also previously had done only a small amount of work with TPEs.