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December 16, 2021 04:11 PM

NanoXplore buys recycling compounder Canuck Compounders

Frank Esposito
Senior Staff Reporter
Plastics News Staff
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    NanoXplore

    Graphene supplier NanoXplore Inc. of Montreal has acquired recycling compounder Canuck Compounders Inc. in a $9.3 million deal.

    The sale price represents a multiple of around five times the average EBITDA of Cambridge, Ontario-based CCI for the last three years, officials said in a news release. CCI makes sustainable and engineered recycled plastic compounds for use in transportation, building and construction, agriculture and packaging markets. The firm has production capacity of about 40 million pounds annually.

    NanoXplore CEO Soroush Nazarpour said in the release that the acquisition "is strategically aligned with our growth initiatives and significantly increases our graphene compounding capability, especially in recycled plastics."

    He added that CCI "has a strong relationship with recycled plastic suppliers that ensures a smooth and reliable supply of post-consumer and post-industrial recycled plastics." The transaction will add about $20 million in annual sales for NanoXplore.

    Following the transaction, CCI CEO and founder William Dickson will continue in a role as general manager, along with about 40 employees.

    "We are delighted to join forces with NanoXplore, given the inherent technological and cultural fit between the two companies," Dickson said. "Graphene from NanoXplore is highly complementary with our recycled plastic compounds to create innovative solutions like enhanced masterbatch and mixtures."

    Officials with NanoXplore added that the firm is seeking to expand its downstream, value-added product offering through enhanced masterbatch and compounds, pastes, battery materials, formulated thermoset resins and cement admixtures.

    NanoXplore expects to post sales of around $85 million in its 2022 fiscal year, which ends June 30. The firm makes standard and custom graphene-enhanced plastic and composite products for transportation, packaging, electronics and other industrial sectors.

    NanoXplore was represented in the deal by MBS Advisors of Florence, Mass.

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