Compounder CrossPoint Polymer Technologies has acquired consulting businesses Jenerxx Inc. and Sustainable Resins.
Jenerxx and SR were part of what is termed The Polymer Hub on the Jenerxx website. Both offer polymer sourcing and supply chain optimization services for their clients. In a news release, officials with CrossPoint in Evansville, Ind., said that the move "signifies a pivotal step in CrossPoint's mission to create a consortium of like-minded companies in the sustainability space to expand its global footprint and overall product offerings."
The deal did not include another Polymer Hub company, Detroit Polymers LLC
CrossPoint CEO and co-founder Ben Schmidt added that Troy, Mich.-based Jenerxx and SR are "an industry leader in the sustainable resins space and adept at navigating complex challenges and markets."
The acquisition will more closely unite CrossPoint with automotive, consumer product and recycled polymer end markets. It also allows for enhanced collaboration with North American recyclers and processors who share in the vision of combining technical resources and improving market intelligence.
CrossPoint and Jenerxx/SR have worked together for 24 years.
"We have a mutual respect and have worked together closely since our inception" said Bob Chaplin, Jenerxx/SR president and founder. "We share the vision of developing a global brand of recycled resins that can be recognized and trusted in Asia, Europe and the Americas."
CrossPoint was founded in 2010. The firm makes injection-grade compounds based on polycarbonate and other engineering resins and blends.
Jenerxx/SR was founded in 2000. Jenerxx first helped suppliers get automotive approvals, but later expanded to other industries. SR was developed with a focus on supporting companies strategically seeking post- consumer and post-industrial alternatives with recycled content.