Materials veteran Andy Ubhi has acquired a majority stake in Poly Compounding LLC, a toll compounder in Elgin, Ill.
Poly Compounding specializes in highly engineered compounds and processes, especially for heat- and shear-sensitive applications. The firm, founded in 2001 by John Wolfe and Scott Crosby, employs 20 at a 25,000-square-foot location.
Ubhi already owns color concentrates maker Peacock Colors Inc. of Addison, Ill., which he acquired in 2018, and Vortex Liquid Color Inc. of Sheboygan, Wis., which he added in 2020. Poly Compounding is located about 30 miles from Peacock. In a phone interview with Plastics News, Ubhi said he plans to keep both sites open.
"We're going to continue with toll compounding, which can be a complementary business to Peacock," he said.
Peacock added a new Buss Kneader line late last year. Ubhi said Peacock posted sales growth of almost 20 percent in 2021 and is growing at double-digit rates so far in 2022.
Ubhi has more than 20 years of plastics experience, including positions with GE Plastics and Kraton Performance Polymers.
In a news release, Ubhi said that he's known Wolfe and Crosby for many years as experts in the field of toll compounding.
"I'll support and add value to their business plan for Poly Compounding," he added.
Wolfe and Crosby said in the release that their firm "has seen tremendous growth during the last few years" and that partnering with Ubhi "will allow us to take the next step as a company, make additional investments in equipment and human talent and ultimately serve our customers better."
MBS Advisors of Florence, Mass., advised Poly Compounding on the transaction.