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Argotec acquisition of urethane maker 'perfect fit'

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GREENFIELD, Mass.—Argotec L.L.C. is expanding its reach and capabilities in the thermoplastic polyurethane sheet and film industry.

It has acquired Stevens Urethane, located in Easthampton, Mass., from JPS Elastomerics Corp., a division of Greenville, S.C.-based JPS Industries. Financial details on the transaction, which closed May 1, were not released.

“The two companies are an ideal fit,” said Guy Broadbent, president and CEO of Argotec. “Our specialty is aliphatic polyurethane film and sheet. Stevens is very good at extruding aromatic TPU film and sheet.”

In addition, Stevens manufactures urethane tubing, cord and profiles.

A company spokesman said that the acquisition complements Argotec's product portfolio and bolsters its manufacturing capabilities in support of the firm's growing global business base.

Stevens is being merged into Argotec, he said, and the two firms will become “one company working together under the Argotec corporate name.”

The combined work force of the two businesses exceeds 200 employees, he said. Adding Stevens' production facility to the Argotec fold will give the company three plants and in excess of 200,000 square feet of space devoted to production and research and development.

“At the present time, all assets and staffing will be utilized in support of our global business,” according to the spokesman.

Once the two businesses are fully integrated, Broadbent said Greenfield-headquartered Argotec will have the necessary technical and manufacturing resources to meet the growing global demand for the difficult-to-extrude offerings of the combined operation.

Stevens' customers can feel confident that their application challenges will be handled by a firm that is a technological leader in the polyurethane film industry, the executive said.

Many of the people who worked with them in the past will be available to continue working with them, he added.

“Argotec's ownership will ensure that capital is available for continued plant expansion, organizational development, further improvements in product quality and the ongoing innovation that is demanded by the industries we serve,” Broadbent said.

In addition to flat-die, cast-on-carrier and blown-film extrusion technologies, Argotec has expertise in resin formulation, substrate design, extrusion coating and multi-layer constructions.

Its primary base includes adhesive coaters, plastics converters and fabricators as well as original equipment manufacturers.

Formed in 1988, the company was purchased in 2013 by West Wind Partners in partnership with Broadbent, who then became president and CEO of the firm.