Specialty materials firm Protech Group of Montreal has acquired Dyvex Industries Inc., a compounder based in Carbondale, Pa.
No purchase price was disclosed in the deal, which was completed Dec. 30. Dyvex makes compounds for fragrance, flavor and odor control products. The firm's brands include Polyessence custom solid fragrances and flavor concentrates and IonicGuard odor neutralization systems.
In a news release, Protech President David Ades said that the acquisition of Dyvex will allow his firm to further add value for its customers by enhancing its range of specialty material offerings.
"Our two companies' cultures of innovation, quality, and strong operating principles are exceptionally aligned," Dyvex President Robert Strony added.
Officials said that acquisitions "are the key to the growth strategy" for Protech, a maker of coatings, paints and specialty materials, including liquid PVC. The firm has made four acquisitions since early 2020, including the thermoset powder coatings business of ACG Industries of France.
MBS Advisors of Florence, Mass., represented Dyvex in the deal.