Materials firm Mega Polymers Inc. is back in the compounding market through a partnership with colorants and concentrates supplier Rainbow Colors.
Earlier this year, Mega owner Bret Garrison sold a 50 percent stake in his Romeoville, Ill.-based firm to Krishna Iyer, owner of Elgin, Ill.-based Rainbow. The two firms are located about 30 miles apart in the Chicago area.
"I was impressed with [Iyer's] professionalism," Garrison said in a recent interview with Plastics News. "Working with Rainbow gives us room to expand our operations."
In March, Mega began making compounds based on a range of commodity and engineering resins and now is operating two twin-screw extruders and one single-screw extruder at the 125,000-square-foot Rainbow site. Mega previously had made compounds in 2019 and 2020 before that business was affected by the COVID-19 pandemic.
Mega will continue to offer recycling and resin distribution services in Romeoville, Garrison said. Industry veteran Chuck Hess, who has more than 25 years of market experience, will run Mega's compounding operations.
In a video on the Mega website, President Christine Haefelin said the partnership with Rainbow "is a game-changer. … We're excited about the growth of both companies." Rainbow operations director Tony Vescovi added in the video that both Rainbow and Mega "have a strong emphasis on quality and sustainable and innovative solutions."
In a news release, officials with both firms said that after meeting, they realized that they "could increase their solution-based offerings if they joined forces." They added that Rainbow's ability to color different materials, combined with Mega's ability to compound those same materials "are sure to make us stand out in today's market."
With compounding capabilities in the same building, officials said that Rainbow now can provide its customers with pre-color alternatives in addition to its previous line of pellet color concentrates, dry color and additive concentrates.
Garrison founded Mega in 2008. He has more than 35 years of materials experience, including a 13-year stint with compounder RTP Co. Mega operates a 75,000-square-foot facility in Romeoville.