Saturday, 2 December 2023, 08:00 HKT/SGT

Source: GEON

WESTLAKE, OH, Dec 2, 2023 - (ACN Newswire) - GEON Performance Solutions, a global leader in the formulation, development and manufacture of performance polymer solutions, announced today the acquisition of Polymax(TPE) 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. Polymax(TPE) 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, Polymax(TPE) 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 Polymax(TPE) team augmented by the resources of GEON and look forward to bringing its TPE solutions to our customers," said GEON CEO Tracy Garrison.

"Polymax(TPE)'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 Polymax(TPE).

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 polymer 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 Westlake, Ohio. Please visit us at 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 of assets under management. For more information, please visit skcapitalpartners.com.