Geon Performance Solutions has made its second acquisition in less than a year, this time buying PVC compounder Cary Compounds LLC of Manalapan, N.J., for an undisclosed price.
Cary makes flexible and semi-rigid PVC compounds for wire and cable, profile extrusion, injection molding and other applications. In a news release, Geon CEO Tracy Garrison said that the Cary name "has long been synonymous with quality and high-end formulas, dating back to Ken Cary, who started the business in 1999."
Garrison added that Charlie Cary, Ken's son, and the team "have built on that reputation in the wire and cable industry, with exceptional formulary, customer service and manufacturing expertise as its key differentiators." Ken Cary died in August 2021 at age 93.
"We look forward to using that same personalized service that our Cary customers value as we introduce an expanded portfolio of highly engineered polymer solutions offered by Geon," Garrison said.
Charlie Cary added that his firm "has been watching Geon expand and evolve in the marketplace and are pleased the tradition of quality and excellence built by the Cary team will now live on."
Geon Chief Commercial Officer Larry Shaw said that Geon had competed with Cary in some wire and cable applications. "We knew [Cary] and we knew the quality of their products," Shaw added by phone June 2. "We're expanding our customer base and our volume with existing customers and adding new product families. Cary will be a good fit."
Cary's four production lines will be moved to other Geon locations. Westlake, Ohio-based Geon in December acquired PVC compounder Roscom Inc., whose plant in Croydon, Pa., isn't far from the Cary site. Shaw said some Cary employees will be offered positions with Geon, while others will stay with other Cary businesses.
He added that Geon will look to make more acquisitions. "We have a robust pipeline that we're pursuing," Shaw said. "There are a lot of areas where we can grow."
In December, Geon acquired PVC compounder Roscom Inc. for an undisclosed price. Roscom makes flexible and rigid PVC compounds for indoor and outdoor applications at a site in Croydon, Pa.
Geon is owned by investment firm SK Capital Partners. The 1,000-employee firm has annual sales of around $1.2 billion and includes one of North America's largest PVC compounding businesses.