Technological watch
Polytek expands with acquisition Endurance Technologies
Easton, Pa.-based Polytek Development Corp., a manufacturer of specialty polymers for mold making, casting and coating, acquired Endurance Technologies in South St. Paul, Minn., to expand its production footprint and capabilities.
Founded in 1992, Endurance Technologies offers formulation and manufacturing with a focus on polyurethane and epoxy systems from a 40,000-square-foot manufacturing facility that also houses offices and laboratories.
Endurance Technology's industrial brand, Custom Polymer Designs, is used in marine, aerospace, construction and recreational composites, while its consumer brands are popular for do-it-yourself and arts and crafts projects.
Founded in 1984, Polytek manufactures PU elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers and board materials at production facilities in Pomona, Calif.; Galesburg, Mich.; Franklin, Ind., and Grants Pass, Ore.
In addition to industrial applications, Polytek products are also used for DIY and arts and crafts as well as construction and restoration, product design and manufacturing, entertainment and education.
The goal of the acquisition is to provide Polytek and Endurance Technologies customers with a broader product portfolio, increased technical support and customer service.
In addition to adding manufacturing sites and capabilities for Polytek, the deal improves the two companies' technical proficiency with the integration of seasoned research and development teams, according to a news release.
"Endurance Technologies has a proven track record of success and market growth built on superior product quality, custom solutions, and hands-on technical support," Polytek CEO Doug Lorenz said. "The companies share similar objectives and values and together we're really looking forward to showing our customers the benefit of this collaboration."
David Hoeffel, owner of Endurance Technologies, said: "Polytek is a great fit for the next chapter of our business. Our team is excited to join forces and work on initiatives that will expand product options and support services for our customers."
The two companies will continue to do business under their existing names. Hoeffel will remain in an active role within the Endurance Technologies brand and support broader initiatives within the Polytek organization.
Terms of the transaction weren't disclosed.
Polytek is a portfolio company of Arsenal Capital Partners, a private equity firm that specializes in investments in middle-market specialty industrial and health care companies.
Founded in 1992, Endurance Technologies offers formulation and manufacturing with a focus on polyurethane and epoxy systems from a 40,000-square-foot manufacturing facility that also houses offices and laboratories.
Endurance Technology's industrial brand, Custom Polymer Designs, is used in marine, aerospace, construction and recreational composites, while its consumer brands are popular for do-it-yourself and arts and crafts projects.
Founded in 1984, Polytek manufactures PU elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers and board materials at production facilities in Pomona, Calif.; Galesburg, Mich.; Franklin, Ind., and Grants Pass, Ore.
In addition to industrial applications, Polytek products are also used for DIY and arts and crafts as well as construction and restoration, product design and manufacturing, entertainment and education.
The goal of the acquisition is to provide Polytek and Endurance Technologies customers with a broader product portfolio, increased technical support and customer service.
In addition to adding manufacturing sites and capabilities for Polytek, the deal improves the two companies' technical proficiency with the integration of seasoned research and development teams, according to a news release.
"Endurance Technologies has a proven track record of success and market growth built on superior product quality, custom solutions, and hands-on technical support," Polytek CEO Doug Lorenz said. "The companies share similar objectives and values and together we're really looking forward to showing our customers the benefit of this collaboration."
David Hoeffel, owner of Endurance Technologies, said: "Polytek is a great fit for the next chapter of our business. Our team is excited to join forces and work on initiatives that will expand product options and support services for our customers."
The two companies will continue to do business under their existing names. Hoeffel will remain in an active role within the Endurance Technologies brand and support broader initiatives within the Polytek organization.
Terms of the transaction weren't disclosed.
Polytek is a portfolio company of Arsenal Capital Partners, a private equity firm that specializes in investments in middle-market specialty industrial and health care companies.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme for the Clean Sky Joint Technology Initiative under grant agreement No 887073.
