December 2021 – Montreal, Quebec – Dyvex Industries of Carbondale, PA has been acquired by the Protech Group of Montreal, Quebec.
Dyvex Industries is a manufacturer of plastic compounds for fragrance, flavor, and odor control products. The company sells its products globally and is widely known for its leading brands Polyessence® and IonicGuard®. Polyessence® is a proprietary scent delivery technology that offers custom solid fragrances and flavor concentrates in a dry-to-the-touch plastic pellet form. IonicGuard® utilizes active odor neutralization, with proprietary ingredients that ionically and covalently bond to malodor molecules.
The Protech Group has been developing and manufacturing coatings, paints, and specialty materials for more than 45 years. Protech Group products are manufactured at more than 20 sites worldwide.
“I’m pleased to welcome our newest team members to the Protech Group family and look forward to all we can accomplish together,” stated David Ades, President, Protech Group. “The acquisition of Dyvex Industries will enable the Protech Group to provide further value to our customers by enhancing our range of specialty material offerings and expanding our R&D capabilities.”
“Our two companies’ cultures of innovation, quality, and strong operating principles are exceptionally aligned,” added Robert Strony, President, Dyvex Industries.
Plastics-focused investment banking firm MBS Advisors of Florence, MA represented Dyvex in the transaction.
Excerpts from above were taken from the Protech Group’s press release.
Plastics News and Coatings World also posted an article regarding this transaction.