PVC additives maker Rheogistics LLC has been sold to wax supplier International Group Inc. for an undisclosed sum.
Rheogistics of Picayune, Miss., makes lubricant systems for rigid PVC. The firm's products include wax-based additives for products such as siding, windows, pipe and fittings, conduit and other building products. Toronto-based IGI is a vertically integrated producer of custom and performance waxes.
Grace Matthews Inc. of Milwaukee served as exclusive financial adviser to Rheogistics on the deal, which closed on June 12.
"We are very proud of what we have built at Rheogistics and the contributions we have made to the PVC industry," Tom Pedersen, Rheogistics majority owner, CEO and technical director, said in a news release.
He added that IGI, "with its deep experience in the wax industry, will provide Rheogistics with greater resources and will help support continued growth."
"The partnership with IGI will expand Rheogistics' operational capabilities to multiple production sites across North America and provide our customers with unmatched reliability and security of supply."
Grace Matthews Managing Director Andy Hinz said that Rheogistics "generated significant interest during the sale process" and that his firm "worked closely with Tom Pedersen and his team to identify a partner with the capabilities and resources to lead Rheogistics' next phase of growth."
Rheogistics was founded in 2000 and employs 35. The firm operates four production lines at a plant covering more than 70,000 square feet.
IGI has 75 years of wax production experience. The firm operates plants in Toronto; Titusville, Pa.; Oshkosh, Wis.; and Bayport, Texas.