SAN DIEGO—Rhino Linings Corp. has acquired a division of BioBased Technologies L.L.C., and sold one of its own businesses to that company.
Rhino Linings of San Diego said it purchased BioBased Insulation, which makes spray polyurethane products used on residential and commercial structures. In turn, Rhino Lining sold its Soyol polyol and related technology assets to BioBased Technologies, which is headquartered in Springdale, Ark.
Rhino acquired the Soyol polyol technology earlier this year from Urethane Soy Systems Co. Financial terms of the deals weren't disclosed.
BioBased Technologies said the deal allows it to focus on developing renewable and sustainable products for the chemical industry via its bio-based polyols. Rhino will concentrate on spray foam systems, and relocate BioBased Insulation operations to its Carrollton, Texas, facilities.