Materials supplier Epsilyte Holdings LLC is creating what it says is one of the largest North American producers of expandable polystyrene with its acquisition of StyroChem Canada Ltd.
Epsilyte announced Oct. 1 it purchased StyroChem from PMC Capital Partners LLC of Sun Valley, Calif., which had owned StyroChem since 2019.
StyroChem's headquarters is in Baie d'Urfe, Quebec. Its EPS is used in the packaging, food service and construction markets. Epsilyte, based in The Woodlands, Texas, is owned by Los Angeles-based private equity investment firm Balmoral Funds LLC and management.
Financial terms of the deal were not disclosed, however, when PMC purchased StyroChem in 2019, officials said it had annual sales of more than $100 million. Balmoral mainly invests in companies with sales of $30 million to $500 million that require equity investments of $10 million to $60 million.
With the acquisition, Epsilyte now employs more than 300 and has three production facilities. It will supply companies in more than 20 countries.
In June, Epsilyte acquired Polysource Inc. of Piqua, Ohio. Polysource compounds EPS and molds parts for building insulation, child safety seats, filtration media and helmet liners.
Effective Oct. 1, Epsilyte increased its price for all EPS grades by 5 cents.