PolyAd Services, based in St. Louis and a leading global developer and manufacturer of additive solutions for the plastics market, is being acquired by the specialty chemicals group ALTANA.
PolyAd Services offers innovative additive solutions for a broad spectrum of plastics applications in a number of industries, including the automotive, construction, packaging and electronic sectors and has business in more than 30 countries.
Mike Modak, PolyAd Services CEO, says the combination of PolyAd Services and ALTANA's BYK Additives & Instruments Division will offer the plastics industry high-value answers and products to improve production efficiencies and product performance.
"I can't think of a better business combination for our PolyAd Services customers," Modak said. "Our customers now will benefit both from the additional offerings of BYK and their Addcomp additives as well as the depth of capabilities coming from ALTANA."
"We look forward to our joint future with BYK which will enable us to fully realize our company's potential in the plastic additives market," Modak added.
The additive solutions of PolyAd Services both improve plastics properties and also customers' manufacturing processes. With tailor-made additive solutions from PolyAd Services, customers can, for example, improve the thermal stability of their products in the automotive sector and offer specialized plastics for a wider range of uses in and near engines and radiators.
PolyAd Services recently invested in long-term production capacity, productivity and quality with the addition of two state-of-the-art, technology-enhanced production lines in St. Louis.
The organization began in 1982 as a unit of Mallinckrodt Chemicals, then became part of Ciba, then BASF before becoming a stand-alone member of the Edgewater Capital Partners family of performance materials companies in 2014.
Terms of the sale were not disclosed.