February 2022 – Uxbridge, MA – Foam Concepts, Inc. (“Foam Concepts”) of Uxbridge, MA has been acquired by Altor Solutions (“Altor”), a subsidiary of Compass Diversified (NYSE: CODI).
Foam Concepts was founded in 1986. It is a manufacturer of expanded polystyrene (EPS) foam products for the cold chain, protective packaging, and construction end-markets. Product examples include insulated concrete forms for construction and insulated containers for perishables. With the addition of Foam Concepts and its facility, Altor will operate 19 manufacturing facilities across the United States to help customers solve their Packaging, Insulation, and Componentry (PIC) needs.
Altor Solutions is a dynamic, engineering-driven company whose goal is to design and produce superior products that help customers solve their needs for packaging, insulation, and componentry.
Compass Diversified (“CODI”) is a leading designer and manufacturer of custom protective packaging solutions and componentry. CODI owns and manages a diverse set of highly defensible North American middle market businesses. CODI maintains controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation.
James Hughes, CEO of Altor stated in the Compass press release, “Foam Concepts is a natural, complimentary fit for Altor, as we continue to pursue our consolidation strategy. With its strategically located facility in the Northeast, we believe the addition of Foam Concepts will further expand our customer base, especially in the cold-chain end-market, while improving profitability and efficiency.”
“We are excited for Foam Concepts to join forces with an industry leader like Altor,” said Philip Michaelson and Mark Villamaino, co-owners of Foam Concepts. “For over 25 years, we have taken great pride in providing high quality products for our customers and we look forward to continuing to deliver on our customer-driven approach while also benefiting from Altor’s resources and capabilities.”
Plastics-focused investment banking firm MBS Advisors of Florence, MA represented Foam Concepts in the transaction.
The above excerpts were taken from a press release by Compass Diversified and an article in Plastics News.