Foam Fabricators Inc. has acquired Polyfoam Corp. and taken other steps to grow the company.
Polyfoam is a foam products maker and injection molder based in Northbridge, Mass. The acquisition is the first deal for Scottsdale, Ariz.-based Foam Fabricators — a maker of foam products for packaging and other markets — since the firm was acquired by Compass Diversified Holdings in early 2018.
"We're very excited about this deal," Foam Fabricators Vice President Michael Hays said in a July 1 interview with Plastics News. "Polyfoam has unique design and development resources. They've developed a lot of techniques and creativity to grow their business."
Polyfoam has annual sales of more than $30 million and employs 130 at a 400,000-square-foot site. Foam Fabricators is acquiring Polyfoam from the Coz family. No purchase price was disclosed. Polyfoam was represented by Polymer Transaction Advisors Inc. of Foxfire, N.C.
Polyfoam products include protective and temperature-sensitive packaging for the medical, pharmaceutical, grocery and food industries. Its foam products can be based on expanded grades of polystyrene, polyethylene or polypropylene. The firm generates most of its sales from foam products, but Hays said foam "is pretty well balanced" with injection molding in Polyfoam's product mix.