Altor Solutions to Acquire Lifoam Industries
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Altor Solutions to Acquire Lifoam Industries
Altor Solutions (a subsidiary of Compass Diversified (NYSE: CODI)), a leading designer and manufacturer of custom protective and cold-chain packaging solutions for the industrial and life sciences markets, today announced it has entered into a definitive agreement to acquire Lifoam Industries, LLC, a manufacturer and distributor of temperature-controlled shipping solutions, for an enterprise value of $137 million in cash at closing (excluding working capital and certain other adjustments).
Founded in 1954, Lifoam manufactures temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for various industries. The acquisition of Lifoam will expand Altor’s presence in the cold-chain packaging sector and diversify its customer base.
Lifoam operates seven manufacturing locations across the U.S. and utilizes advanced engineering capabilities to design and validate products in certified labs. This acquisition is expected to accelerate Altor’s long-term strategy in cold-chain packaging solutions.
“This acquisition is pivotal in accelerating Altor’s long-term strategy,” said Altor’s CEO. “We gain infrastructure, design, and certification capabilities while enhancing our offerings.”
Elias Sabo, CEO of Compass Diversified, added: “The acquisition brings substantial expertise to Altor, expanding our geographic footprint and enabling us to enhance our customer service.”
The acquisition is expected to close soon, subject to customary closing conditions.
About Altor Solutions
Based in St. Louis, Missouri, Altor Solutions focuses on designing and manufacturing industrial protective packaging products and cold-chain solutions for various sectors. Altor operates 16 facilities across North America, specializing in temperature-controlled containers.
About Lifoam
Lifoam Industries, LLC is a leader in thermally controlled packaging solutions, with a commitment to sustainability and innovation. Founded in 1954, Lifoam specializes in producing EPS coolers and packaging tailored for healthcare and retail markets.
About Compass Diversified
Compass Diversified has a strong track record of owning and managing a diverse set of middle-market businesses across various sectors since its IPO in 2006. They leverage a permanent capital base and long-term approach to maximize impact on cash flow generation and value creation.
Frequently Asked Questions
What is the significance of Altor acquiring Lifoam Industries?
The acquisition enhances Altor’s cold-chain packaging capabilities and diversifies its customer base.
When is the acquisition expected to close?
The acquisition is expected to close soon, subject to customary closing conditions.
What are Lifoam's main products?
Lifoam manufactures temperature-controlled packaging products, including thermal shippers and refrigerant gel packs.
How many facilities does Altor operate?
Altor operates 16 advanced facilities across North America.
Who can be contacted for investor inquiries?
For investor inquiries, you can contact irinquiry@compassdiversified.com.
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