The acquisition is complementary to both firms with a mutual advantage in technology sharing
Huntington Solutions, a Mill Point Capital’s portfolio company, recently announced that it has bought Texas Foam, a company that manufactures foam packaging solutions that are temperature sensitive, as well as customized extended-duration shippers for instrumentation, food and beverage, medical and pharmaceutical industries.
For the record, Texas foam is a manufacturer and an innovative designer that produces highly-performing molded EPS packaging solutions that are thermally insulated. These packaging solutions are tested rigorously in order to meet various customer and industry specific durability and quality requirements.
Ed Flynn, Huntington Solutions’ President, said that the company is looking forward to having Texas Foam join as its seventh facility. The ability to meet the customers’ need will be augmented owing to proven cold-chain and impressive packaging technologies which Texas Foam offers.
Texas Foam will help expand Huntington’s geographic reach due to its newly found presence in the Southwest which has led to the company’s offering reach an entirely new group of customers, Flynn added.
Scott Martin, Executive Chairman, Huntington Solutions, said that Huntington will significantly broaden and increase its production capabilities in the fast-growing temperature-sensitive packaging market after it acquires Texas Foam.
Martin commented that the company views this transaction as beneficial and complementary to both organizations. Each company will have mutual advantage from implementing operational best practices and sharing technologies.
Huntington Solutions has its headquarter in Greer, SC and leads the industry in providing custom-engineered-shaped-molded and expanded polystyrene (EPS) fabricated foam as well as expanded polypropylene (EPP), among other advanced resins.
There are reportedly seven production facilities of the company located strategically in Michigan, Virginia, Ohio, South Carolina and two in Mexico that specialize in the production and assembly of major components used in protective packaging, temperature-controlled containers and safety materials that are energy absorbing.
Source Credit- https://www.businesswire.com/news/home/20190717005849/en/Huntington-Solutions-Acquires-Texas-Foam