Foam Fabricators, a portfolio company of Compass Diversified (CODI) since January 2018, has acquired Polyfoam.
Polyfoam is a manufacturer of protective and temperature-sensitive packaging used in the medical, pharmaceutical, grocery and food industries. The company is headquartered near Boston in Northbridge, Massachusetts.
Foam Fabricators is a designer and manufacturer of custom-molded protective foam products and OEM components that are used in a variety of end-markets, including appliances and electronics, pharmaceuticals, health and wellness, automotive, and building products.
The company’s products are made from expanded polymers such as expanded polystyrene (EPS) and expanded polypropylene (EPP). Foam Fabricators, headquartered in Scottsdale, Arizona, was founded in 1957 and operates 14 molding and fabricating facilities across North America.
The buy of Polyfoam expands Foam Fabricators’ operating footprint, adds customers and new products including seafood boxes, insulated shipping containers, and grocery delivery totes.
“Over the past two years and with CODI’s support, we have been transforming our business, which has historically focused on molded foam products, into a full-service packaging solutions provider,” said James Hughes, the president of Foam Fabricators. “Today’s announcements demonstrate our progress in positioning the company for its next phase of growth and we are delighted to welcome the Polyfoam team to our platform, which significantly expands our geographic reach, allows us to serve new specialty end-markets and drives technological innovation.”
“Since 1957, Foam Fabricators has distinguished itself as the partner of choice for protective and thermal packaging,” said Elias Sabo, chief executive officer of CODI. “As the pandemic continues to transform the way customers shop and a heightened focus is placed on logistics and streamlining supply chains, the company continues to reposition itself as a one-stop, diversified packaging platform. These initiatives are the first of what we anticipate will be many exciting announcements for Foam Fabricators in 2020.”
Compass Diversified (NYSE: CODI) is a private equity firm specializing in acquisitions, buyouts, and middle-market investments. The firm invests between $75 million and $700 million in companies that have EBITDA of at least $10 million. Sectors of interest include niche industrial or branded consumer companies that are headquartered in North America. Compass went public in 2006 and is based in Westport, Connecticut.
Private Equity Professional | July 7, 2020
The post Compass Diversified Adds to Foam Fabricators appeared first on Private Equity Professional.
