Altor takes over Foam Concepts as part of its “consolidation strategy”

Protective packaging manufacturer Altor Solutions Inc. continues its acquisition strategy by purchasing Foam Concepts Inc. of Uxbridge, Mass. The deal, on undisclosed terms, closed on February 1.

Foam Concepts manufactures expanded polystyrene foam products such as insulated concrete forms for construction and protective packaging including insulated containers for perishables. It also manufactures products for the temperature-controlled supply chain and healthcare markets in its 120,000 square foot facility. The company said it reuses EPS foam collected from the community.

Scottsdale, Ariz.-based Altor said the acquisition strengthens its position in packaging and related components.

“Foam Concepts is a natural and complementary fit for Altor as we pursue our consolidation strategy,” Altor CEO James Hughes said in a Feb. 2 press release.

Florence, Massachusetts-based Molding Business Services Inc., dba MBS Advisors, represented Foam Concepts in connection with the transaction.

Along with the Foam Concept plant, Alcor will operate 19 manufacturing plants across the United States. In the fall, Altor acquired Plymouth Foam LLC, a maker of protective packaging, and its two manufacturing sites for $56 million.

Plymouth’s plants in Plymouth, Wisconsin, and Gnadenhutten, Ohio manufacture EPS and expanded polypropylene products. Plymouth has given Altor cold chain capacity and access to customers in markets including construction, food and beverage, recreational vehicles and pharmaceuticals.

Altor was created as the parent company of Foam Fabricators Inc. of Scottsdale; Polyfoam LLC of Northbridge, Mass. ; and carton maker Rational Packaging LLC of Springfield, Tenn. Altor is a subsidiary of Compass Diversified Holdings of Westport, Connecticut.

Compass Diversified is the majority owner of 10 mid-market companies that manufacture everything from fine jewelry and baby strollers to circuit boards and sports equipment.

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