Polymer Solutions Group Acquires Wood Release Agent Product Line from Michelman
ALBANY, GA and CINCINNATI, OH — SASCO Chemical, a Polymer Solutions Group (PSG) company, today announced that it has acquired the Wood Release Agent Product Line of Michelman, Inc. a major supplier of release agents to the engineered wood market. SASCO has expanded its business in the wood release agents market over the past several years by leveraging its core competencies around anti-tack products primarily sold into the rubber industry. In 2015, SASCO opened a state of the art release agent production facility in Albany Georgia.
According to Mike Ivany, President and CEO of PSG, “The acquisition of Michelman’s Michem® Wood Release agents will advance PSG’s strategic goal of growing its product portfolio of functional materials for the construction industry. Specifically, this solidifies PSG and SASCO as a dedicated supplier to the engineered wood market and provides a platform to expand PSG’s presence into other technical and geographical areas.“
MIchelman’s President and CEO, Steve Shifman added, “We are extremely proud of the development of our engineered wood release business over recent years. Michelman’s technical and business development associates identified a changing commercial environment and acted to fulfill the needs of our customers. This segment continues to develop and we are pleased that these customers will now be served by SASCO.”
To ensure the smooth transitions of current customers, Michelman will continue to manufacture the acquired products for PSG while the production capacity is ramped up at PSG production facilities. Over the next few months, SASCO’s legacy engineered wood products and the newly acquired products from Michelman will be integrated into PSG’s Functional Materials business segment. Products will be sold under PSG’s existing brand name, TechKote™. As a technical leader in the research, development and manufacturing of speciality chemicals, PSG is well positioned to meet the production, quality and service demands of the growing engineered wood market.
About Polymer Solutions Group
PSG is a manufacturer of specialty polymers and additives for the rubber, wood, consumer, construction, and medical industries. PSG was formed by Arsenal Capital Partners (www.arsenalcapital.com) in 2015 with the acquisition of Peach State Labs (Rome, GA). Flow Polymers (Cleveland, OH), SASCO Chemical (Albany, GA) & Alkon Solutions (Leeds, UK) were added in 2016. For additional information on PSG, please visit www.polymersolutionsgroup.com.
Michelman is a global developer and manufacturer of environmentally friendly advanced materials for industry, offering solutions for the coatings, printing & packaging and industrial manufacturing markets. The company’s surface additives and polymeric binders are used by leading manufacturers around the world to enhance performance attributes and add value in applications including wood and floor care products, metal and industrial coatings, paints, varnishes, inks, fibers and composites. Michelman is also well-known as an innovator in the development of barrier and functional coatings, as well as digital printing-press primers that are used in the production of consumer and industrial packaging, paper products, labels, and commercially printed materials. Michelman serves its customers with production facilities in North America, Europe and Asia, product development and technical service centers in several major global markets, and a worldwide team of highly trained business development personnel.
Polymer Solutions Group
Director of Marketing, Functional Materials
Vice President, Strategy and M&A