WESTLAKE, OHIO – December 1, 2023 – GEON Performance Solutions, a global leader in the formulation, development and manufacture of performance polymer solutions, announced today the acquisition of PolymaxTPE which specializes in the development of premium thermoplastic elastomer (TPE) materials for manufacturers across a diverse range of industries throughout North America, Asia and Europe. PolymaxTPE has two full-service manufacturing sites in Nantong, Jiangsu, China, and Waukegan, Ill, USA.
“Founded in 2005 in Nantong, Jiangsu, China, and expanded to include the Waukegan, Ill, USA facility in 2015, PolymaxTPE is a recognized leader in TPE research, development and manufacturing, serving customers globally. This addition represents a key step forward in GEON’s strategy. The Nantong facility and tenured team will enable us to better serve our customers in the Asia-Pacific region and the facility in Illinois will support our continuous growth in North American markets through expanded polymer solutions and market access. We intend to maximize the incredible expertise of the PolymaxTPE team augmented by the resources of GEON and look forward to bringing its TPE solutions to our customers,” said GEON CEO Tracy Garrison.
“PolymaxTPE ’s leading thermoplastic elastomer technology will be fully leveraged by GEON to make the combined company a global leader in thermoplastic elastomer. This alignment secures a strong future for our customers,” said Dr. Martin Lu, chief technology officer and co-founder of PolymaxTPE.
Sales and manufacturing operations for both companies will continue as usual through the transition.
About GEON Performance Solutions
GEON Performance Solutions is a global leader in the formulation, development and manufacture of performance polymer solutions. With a portfolio of highly adaptable vinyl and polyolefin technologies as well as a full-service manufacturing business, GEON combines three powerful traditions into a single, customer-focused business. GEON Performance Solutions is a leading innovator in the development of performance material solutions for a broad range of markets including appliances, building & construction, electronics, healthcare, transportation, wire & cable and more. GEON Performance Solutions has approximately 1,000 global associates and 12 world class manufacturing plants with headquarters in a western suburb of Cleveland, Ohio. Please visit us at www.geon.com to learn more. GEON Performance Solutions is a portfolio company of SK Capital Partners.
About SK Capital Partners
SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The Firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $17 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The Firm currently has approximately $7.9 billion in assets under management
Contact
Any inquiries regarding this transaction should be directed to:
Grace Liu
Director of Marketing
+1 (216)-678-7099
