PolyOne has announced the acquisition of two specialty businesses from Gordon Holdings. The acquired businesses design and produce lightweight, high-performance solutions, using advanced composite technology.
Bolstering PolyOne’s existing portfolio of thermoset composite solutions is the acquisition of Gordon Composites, which develops high strength profiles and laminates for use in vertical and crossbow archery, sports and recreation equipment, prosthetics, and office furniture systems.
The second acquired business, Polystrand, is a leader in continuous reinforced thermoplastic composite technology, a material that delivers high strength and lightweight characteristics of composites, further enhanced with the design flexibility to form more complex shapes. Current application usage includes materials for the aerospace, transportation, outdoor and security and protection markets. Both acquired businesses will join PolyOne’s existing portfolio of complementary solutions in a new platform to be called PolyOne Advanced Composites.
Craig Nikrant, president, Specialty Engineered Materials, PolyOne Corporation said;
With these acquisitions we’ve built upon our past success and portfolio of composite solutions to now serve our customers more comprehensively than ever before.
The purchase price for both businesses was $85.5 million. The price includes all assets related to the businesses, including intellectual property, trademarks and production assets. PolyOne expects the acquisitions to add $40 million to revenues and be accretive to earnings in 2017.