Page 54 - Plastics News October 2019

BUSINESS NEWS

Graham buys California-based Italmatch Chemicals invests in
blow molder FRX Polymers in US

raham Partners, a private peciality chemical group Italmatch Chemicals
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industrial technology and SRO\PHULF SKRVSKRUXV EDVHG ÁDPH UHWDUGDQWV PDNHU
advanced manufacturing FRX Polymers.The strategic partnership between the
companies has invested in companies is expected to provide new technical and
VPET USA, LLC (“VPET“). business opportunities and boost Italmatch Chemicals’
Headquartered in Fontana, ÁDPH UHWDUGDQWV EXVLQHVV GLYLVLRQ )5; 3RO\PHUV KDV
CA, VPET is a manufacturer of GHYHORSHG KDORJHQ IUHH SRO\PHULF ÁDPH UHWDUGDQW
additive. It is used in textile, polyurethane foam and
custom and stock PET plastic coatings, polycarbonate blends and alloys, copper-
containers primarily used in clad laminates, as well as other thermoplastics.
the packaging of food and beverage products. VPET FRX Polymers CEO Triton Systems and chairman
LV EHQHÀWLQJ IURP PXOWLSOH FRQYHUVLRQ GULYHQ JURZWK Ross Haghighat said: “There is considerable synergy
catalysts, including brand proliferation in the food and between the two companies and this transaction,
beverage industry, growth in the direct-to-consumer and SURSHOV WKH JURZWK WUDMHFWRU\ RI )5; VLJQLÀFDQWO\ µ
e-commerce channels, and the continued conversion to The US company owns an application development
PET for wide-mouth packaging. The company is able to centre in Massachusetts and a polyphosphonate plant in
provide innovative PET packaging solutions with short lead Antwerp. It has 26 employees working for its halogen-
times, giving its customers a speed to market advantage. IUHH ÁDPH UHWDUGDQW DGGLWLYHV EXVLQHVV &LWLF &DSLWDO
VPET specializes in the attractive wide-mouth PET food Evonik Venture Capital, Triton Systems, Mubadala, and
packaging segment. The company is favorably positioned BASF Ventures are some of the major venture capital
investors, supporting FRX. Italmatch Chemicals group
to succeed in this segment due to its state of the art IRXQGHU DQG &(2 6HUJLR ,RULR VDLG ´:H DUH H[FLWHG WR
equipment, comprehensive mold library, quick-to-market invest in FRX, considering the very innovative approach
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across three facilities. Adam Piatkowski, Managing Principal company owns a comprehensive patent estate, allowing
at Graham Partners, states, “Graham’s investment thesis it to apply its innovative technology to a wide range
for VPET is premised on coupling the company’s stable, RI DSSOLFDWLRQV ´:H DUH FRQÀGHQW WKDW ,WDOPDWFK FDQ
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to supporting the strong team at VPET with our packaging
expertise and network of industry experts to amplify
the company’s performance.” Steven Graham, CEO of
Graham Partners, adds, “Graham’s historical packaging
experience and manufacturing know-how, coupled with
the operational and growth opportunities at VPET, make
this a very attractive acquisition for Graham Partners.”
VPET is a manufacturer of custom and stock PET containers support and accelerate the growth of FRX through
primarily used in the packaging of food and beverage technological support and synergies, considering
SURGXFWV 93(7 LV EHQHÀWLQJ IURP PXOWLSOH FRQYHUVLRQ that today Italmatch is the largest global producer of
driven growth catalysts, including brand proliferation in phosphonate and of industrial phosphorus derivatives
the food and beverage industry, growth in the direct-to- with almost 90 years in the phosphorus industry.”
consumer and e-commerce channels, and the continued Italmatch has used cash on the balance sheet to fund
conversion to PET plastic for wide-mouth packaging. the investment.

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