Foam Holdings (DBA Alleguard), a platform company of Wynnchurch Capital, has acquired Harbor Foam, a manufacturer of expanded polystyrene (EPS) products.
Harbor Foam manufactures EPS products, which are lightweight, rigid cellular materials utilized in the construction, packaging, and manufacturing sectors. These materials provide insulation, structural support, cushioning, and protective packaging.
Source: Getty ImagesEPS foam can be molded into various shapes and sizes, offering effective thermal insulation, impact resistance, and moisture protection. EPS foam can be molded into various shapes and sizes, offering strong thermal insulation capabilities as well as impact and moisture resistance. Harbor Foam serves customers in the construction, packaging, recreational vehicle, and general industrial markets. The company is headquartered southwest of Grand Rapids in Grandville, Michigan.
Wynnchurch formed Alleguard in 2023 to consolidate its investments in several companies, including Arkansas-based Drew Foam (acquired November 2020), South Carolina-based Huntington Solutions (December 2020), Pennsylvania-based Insulation Corporation of America (December 2020), Indiana-based Fabricated Packaging Materials (November 2021), Massachusetts-based Concrete Block Insulating Systems (September 2022), and Ontario-based Amvic (October 2022).
Today, Alleguard is a manufacturer and distributor of custom expanded polystyrene (EPS), a lightweight, rigid foam; expanded polypropylene (EPP), a durable and flexible foam; and ARCEL, a blend of polystyrene and polyethylene. The company’s EPS products offer cushioning and thermal insulation properties, while its EPP products provide strong impact resistance. ARCEL products combine the rigidity of EPS with the flexibility of polyethylene.
Alleguard’s foam products are utilized in packaging, appliances, building products, cold chain logistics, automotive, consumer goods, and other industrial end markets. The company is led by CEO Paul Ciolino and is headquartered near Nashville, in Brentwood, Tennessee.
“We’re thrilled to bring Harbor Foam into the Alleguard family. Harbor Foam has a strong reputation for high-quality products and excellent customer service,” said Mr. Ciolino. “This partnership will enable Alleguard and Harbor Foam to better serve our growing Midwest customer base.”
“Harbor Foam is highly regarded across the EPS industry and has built exceptional relationships with its blue-chip, loyal customer base,” added Erin Murphy, a partner at Wynnchurch. “We are excited to have them join the Alleguard team.”
Wynnchurch Capital invests in middle-market companies with revenues between $50 million and $1 billion, specializing in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. The firm focuses on sectors including aerospace, defense, and government; building products and materials; consumer and food; manufacturing, industrial, and transportation; and business services and distribution.
In January 2024, Wynnchurch closed its sixth private equity fund, Wynnchurch Capital Partners VI LP, with $3.5 billion of committed capital. Wynnchurch was founded in 1999 and is headquartered in Rosemont, Illinois, with additional offices in Los Angeles (El Segundo) and New York City.
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