Sory

Epsilyte began its journey in November 2020, when Balmoral Funds partnered with industry veteran and chemist Brad Crocker, who brought a sustainability-focused, advanced materials-oriented vision to acquire Flint Hills Resources’ expandable polystyrene (EPS) business in Peru, Illinois. We all remember 2020. It was a tough time to launch a new company. Still, the team worked tirelessly to create an industry-leading company of scale, refocused on durable, life-sustaining applications, and solving customer needs for efficient, high-R value EPS with a sustainable mindset.

Focused on the next steps toward improving sustainable practices, in May 2021, Epsilyte added POLYSOURCE® to the business. This acquisition introduced Epsilyte to the safety helmet market and added innovative extrusion technology to Epsilyte. The extrusion technology is central to Epsilyte’s growth and sustainability vision. At the time of the acquisition, Piqua, Ohio was already recycling over 200,000 pounds a year. Immediately after close, Epsilyte challenged the team to grow the recycling profile by 20x to 4 million pounds per year. Recycling and innovation collaborations with the Piqua site are ongoing. These collaborations now include (1) meaningful environmental certifications and significant actions toward improving inter-company and post-consumer recycling goals and (2) increased energy conservation characteristics of improved products made possible by our joint site technologies.

To further improve the business profile, Epsilyte acquired StyroChem in October 2021. StyroChem has a lengthy history. Founded in 1975 as Expandable Technologies, the company was one of the first foam manufacturers for foodservice applications and a leading innovator of biodegradable EPS. The addition of SytroChem significantly improved Epsilyte’s market position on biodegradable EPS, now including our ADEPT® product line. This acquisition also made Epsilyte one of the largest producers of EPS in North America, which further improves our opportunity profile with respect to recycling feedstock.

Epsilyte now operates three production sites, employs more than 300 associates, and provides customer solutions in more than 16 countries.