Date: Jan 04, 2011 Source: Company Data
The management team of Flow Polymers, Inc. and Geneva Glen Capital, LLC, a Chicago - based private equity firm, completed the acquisition of the assets of Flow Polymers, Inc. on December 31, 2010. The new company, Flow Polymers, LLC, will continue to be led by the complete management team that has made Flow Polymers, Inc. a success over the past ten years. The combination of Flow Polymers existing management team with the capital and strategic support from Geneva Glen, provides the resources needed for Flow Polymers to meet it s growth plan that includes further international expansion and entry into the plastics market with SureFlo® plastics additive.
According to Michael Ivany, President and CEO, "Our business has achieved substantial growth over the last ten years in both international and domestic markets which will continue through further penetration with existing as well as new products and services for the rubber and plastic industries. Our current management team which has been part of our past success will continue in their same capacities, making for a seamless transition".
"Looking ahead, our dispersion and additive businesses are expected to continue their stellar growth in the rubber market. New products such as SureFlo, an additive for plastic which improves processing and homogenizing properties in both recycled streams and virgin resin, will further enhance our growth," says Ivany.
Adam Schecter and Jeff Gonyo, the founders and Managing Directors of Geneva Glen Capital stated that "Flow Polymers' leading mark et position, opportunities for continued and significant organic growth and value creation, along with an outstanding management team who also invested meaningful personal capital, provided the key attributes for us that made this an attractive investment. We are thrilled to have Flow become the first platform acquisition in our new fund and look forward to working with management to help them achieve their growth plan".
About Flow Polymers, LLC: Flow Polymers is a leading manufacturer of proprietary and custom chemical dispersions, process aids and homogenizing agents for tire, automotive, industrial products, wire and cable and plastics markets. Flow Polymers' focus is the development and manufacture of unique products that meet customers' current and fu ture needs.
About Geneva Glen Capital, LLC: Geneva Glen Capital is a Chicago - based private equity firm that invests in proven private companies with leading market positions, significant growth potential, and stable cash flows; headquartered in the U.S. or Canada; with EBITDA between $3M and $20M. The firm works closely with company management to establish and execute on a clearly defined value creation and growth plan. The principals of GGC have extensive private equity experience and a fund structure that provides them the ability to be flexible, creative and, if appropriate, long - term investors.
For more information, please contact: Mike Ivany, President and CEO Flow Polymers, LLC 12819 Coit Road Cleveland, OH 44108
