New year brings Elite Advanced Polymers a new leader, a new HQ and a new company

PLANO, Texas—The transformation continues at Elite Advanced Polymers Inc., a niche custom mixing firm, as the company names its next chief executive officer and moves its headquarters from Mississippi to Texas. And that's not even mentioning the specialty compounder it has entered into an agreement to purchase.

Effective Dec. 1, 2021, Seiichiro "Ichiro" Araki took the reins at Elite Advanced Polymers, coming from his previous position as managing director at DestinHaus Capital L.L.C., a San Ramon, Calif.-based private equity firm that purchased Elite Advanced Polymers (previously Elite Elastomers) in February 2021.

Araki will lead company operations, from its manufacturing and research and development campus in Ripley to its expansion efforts across the country. Murli Nathan, a partner at DestinHaus who has been Elite's executive chairman and CEO, will continue as executive chairman.

"We are excited to have Ichiro join Elite's management team to spearhead the strategic initiatives we have lined up for the near future and lead the company's expansion efforts," Nathan said. "His deep experience in the North American chemicals sector is a huge asset to Elite, and we are confident that his leadership will take the company to the next level."

Araki previously oversaw DestinHaus operations in Japan. Prior to that, he spent 20 years at Sumitomo Corp., where he served as assistant general manager of corporate planning, overseeing North American chemical businesses, including thermoplastic products, rubber compounding, oilfield chemicals and automotive materials.

In concert with Araki's selection, Elite moved its headquarters from Ripley, Miss., where its manufacturing operations remain, to Plano, just outside Dallas. In part, the move is being made as Elite looks to make inroads in the resurgent oil and gas sector, according to Elite.

As Elite Advanced Polymers continues to shape its future, the company said Feb. 10 that it has reached a definitive agreement to acquire J Dunnam and Co. L.L.C. of Cleburne, Texas, which is not far from Plano.

The deal for J Dunnam has not yet closed, Elite said in a Feb. 10 release announcing that planned acquisition.

"JD & Co.'s focus on high-quality rubber compounds for high-performance applications fits closely with Elite's vision and strategy," Araki said. "We look forward to continuing the high levels of service to JD & Co's customers and deepening our relationships with customers in the Southern U.S."

According to Elite, JD & Co. has more than two decades of development and mixing experience in specialty rubber compounds, a pedigree that fits well with Elite's own background and specialties in HNBR and fluoroelastomers.

JD & Co. also offers technical development for a range of polymers with applications in the industrial and oil and gas markets.

When the acquisition is finalized, JD & Co. President Amy Hiett will join the Elite Advanced Polymers team.

"We are excited to have Amy Hiett join Elite, bringing over 25 years of custom rubber mixing experience to the team," Araki said.

Hiett said becoming part of the Elite team will embolden JD & Co.'s technical expertise and niche, high-end custom mixing capabilities.

"At JD & Co, we have built our business on providing our customers with the high levels of service that they expect and deserve," Hiett said. "We are confident that this partnership ... will allow us to provide even more resources for our customers to remain competitive in today's environment."

Elite Advanced Polymers, which currently has about 65 employees, was founded in 2001 as Elite Elastomers Inc., and currently serves customers throughout the Southern and Midwestern U.S.

Elite made a name for itself over two decades in the oil and gas, automotive, industrial conveyor belting and consumer-oriented product industries. Elite has a portfolio of swellable elastomers that are used in the completion of fracking wells, supplying both water and oil swell packers.

Elite has a main, combined custom mixing and warehousing facility in Ripley, which comprises three mixing lines, including a color line.

The campus also has a research and development facility (part of the DestinHaus transaction) and two buildings that comprise Elite Elastomer Products L.L.C., a finished goods business established in 2016 that remains under previous ownership.

While oil and gas remains a major portion of Elite Advanced Polymers' custom mixing applications, Elite has seen an area of increased growth in the life sciences market.

And life sciences remains an area that DestinHaus said it would like to grow further—either through expanded capacity with Elite or via future business acquisitions, which the company hinted at in October at the International Elastomers Conference in Pittsburgh.

That first acquisition will be JD & Co. when that deal closes. Company officials said the firm also has added a second shift at Ripley, and will continue to look for other acquisition candidates and also consider adding new focused custom mixing facilities where feasible.

Look for a more in-depth piece on Elite Advanced Elastomers both online at rubbernews.com and in the Feb. 21 issue of Rubber News.