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Polymer Tech acquisition bolsters portfolio, growth

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Robert Prybutok, Polymer Technologies President and CEO
Robert Prybutok, Polymer Technologies President and CEO

NEWARK, Del.—Delaware-based Polymer Technologies Inc. has acquired Engineered Plastics Solutions Group Inc., a manufacturer of custom shock and vibration solutions, in a deal that will help Polymer feed its long-term strategy of growth products and expanding into new markets.

One of the main reasons for the acquisition was increased growth opportunities associated with the manufacturing of a “million mile mount,” according to Robert Prybutok, Polymer Technologies President and CEO, who founded the company in 1989.

Today most isolation mounts don't pass more than 200,000 miles, but the compound that EPSG has made doesn't deteriorate as easily and offers a unique elastomer technology that will be particularly helpful in selling to the heavy truck market for Class A vehicles, according to the company.

“EPSG may be a small organization in terms of employee size, but they have exceptionally good technology and three-dimensional capabilities,” Prybutok said. “These capabilities were obvious to us as we learned more about the company and are a real asset to our base of OEMs that use an isolation mount.”

With EPSG in the fold, Polymer will create an Elastomeric Solutions Division, which will specialize in shock and vibration isolators, molded isolation products, and custom elastomeric shock and vibration material development.

All six members of EPSG's staff are joining Polymer Technologies, and the office for the new Polymer Elastomeric Solutions Division will be located in Massachusetts where EPSG was based, Prybutok said.

The deal happened quickly once both parties expressed interest. “We saw the clear technological benefits and knowledge that the professionals there had, and they saw significant opportunities to additional access, sales reach and capital,” he said. “We are growth-oriented and in an acquisition mode, and this allows us to grow horizontally and vertically.”

The new Elastomeric Solutions Division will be managed “somewhat autonomously,” Prybutok said, while the removal of back-office responsibilities will open additional time for the former EPSG staff to develop resources in such areas as research and development and sales. Products developed by the new division will be sold through Polymer Technologies' entire sales chain.

Former EPSG executive Rick Nie will remain as a technical consultant and will help to educate and direct efforts of the sales force, Prybutok added.

“Polymer and EPSG are the perfect fit for each other—both companies provide custom engineered solutions that solve unique problems,” Nie said in a statement. “In addition, both Polymer and EPSG pride themselves on being results driven with a focus on providing the customer with the highest quality product for each application.”

According to the company, customers may expect the following from the new division:

• Engineering experts who focus on creating solutions and getting results, not just making products;

• Materials expertise based on Polymer Technologies' database of more than 5,600 unique rubber formulas, as well as its ability to create new formulas based on exact customer requirements and specifications;

• State-of-the-art computer simulation that saves money and time by eliminating the need for producing prototypes; and

• Polymer Technologies' proprietary DuraFlex rubber that offers ultra-high resiliency and fatigue life.

The technologies produced by the new division will benefit Polymer Technologies' efforts to achieve further growth in the aerospace industry as well, Prybutok said. As an AS 9100 certified company for aircraft, Polymer will increase its reach into the rail and mass transit markets by promoting the mounts manufactured by the new Elastomeric Solutions Division.

“We have a strategy of growing over time, and acquisitions are one piece,” Prybutok said. “When you are looking at adding new technologies and technical expertise, often acquisition makes sense while sales channel growth is often a result of organic growth.”

Polymer Technologies expects to grow its new division as the mounting business expands into existing and new markets, he said.

Additional staff in such areas as quality, production and eventually engineering likely will be needed. “It's an area we will continue to invest in,” he said.

Polymer Technologies' products are sold to a broad range of industries including aerospace, military, medical, power generation and transportation. The company has more than 110 full-time employees at its 87,000-sq.-ft. headquarters and manufacturing facility in Newark.

“Our goal is to continue adding value, increasing efficiency, and tackling new problems and challenges with our customers,” Prybutok said. “And we are always looking for strategic partners.”

Polymer Technologies, a manufacturer of noise reduction materials, thermal composites and molded foam products, is celebrating its 25th anniversary this year.