SCOTTSDALE, Ariz., Sept. 9, 2020 /PRNewswire/ -- Foam Fabricators
Inc. (the "Company" or "Foam Fabricators"), a leading designer and
manufacturer of custom protective packaging solutions, today
announced a strategic investment in Rational Packaging, LLC
("Rational Packaging"), a premier designer and manufacturer of
recyclable, paperboard-based structural packaging components. This
investment follows the previously announced strategic partnership
established between Foam Fabricators and Rational Packaging in
July 2020. Financial terms of the
transaction were not disclosed.
With a more than 60-year history, Foam Fabricators operates 16
state-of-the-art molding and fabricating facilities across
North America, providing products
to a variety of end-markets, including appliances and electronics,
pharmaceuticals, health and wellness, automotive, building products
and others. In January 2018, Foam
Fabricators was acquired by Compass Diversified (NYSE: CODI), an
owner of leading middle market businesses. With CODI's support,
Foam Fabricators continues to execute on its strategic priorities
to diversify and drive sustainability, transforming the business
from its original focus on molded foam products into a one-stop,
diversified packaging platform.
Led by packaging industry veterans, Rational Packaging blends
creative design with an engineered-systems approach to manufacture
best-in-class structural packaging components. Contrasting the
conventional packaging staple – cylindrical paperboard corner posts
– Rational Packaging leverages a patented Wave Corner Post design,
which uses multiple layers of laminated material that are formed
into a wave pattern to create cushioning and impact resistance as
well as improved stacking strength. Rational Packaging's wave
configuration offers advantages over conventional corner posts and
its solutions are engineered using recycled and environmentally
responsible inputs, making them fully post-consumer recyclable.
"Rational Packaging's innovative and patent-protected wave
pattern designs, sustainable material offerings and unique
manufacturing capabilities enhance our ability to provide a growing
base of customers with effective and efficient solutions for all of
their protective and structural packaging needs," said James K. Hughes, CEO of Foam Fabricators. "As we
continue to take purposeful steps forward in our transformation to
a full-service packaging solutions provider, we are thrilled to
further expand our partnership with Rational Packaging through this
strategic investment. We are confident that our customers will
greatly benefit from their forward-thinking approach, as well as
the addition of Rational Packaging's differentiated structural
products to our best-in-class portfolio."
"An industry leader with a strong reputation for high-quality
offerings across diverse product categories, Foam Fabricators is
the ideal partner for Rational Packaging as we accelerate our
commercialization efforts, enhance our production capabilities and
expand upon our unique, customer-centric offerings," said
Tom Roberts, Co-Founder and Chief
Executive Officer of Rational Packaging. "James and the team at
Foam Fabricators share our vision for the future and we look
forward to growing our customer base together and expanding our
footprint into new geographies, while maintaining our unwavering
commitment to customer satisfaction."
"Now more than ever, the ability to provide customers with
innovative, flexible and sustainable solutions is imperative," said
Elias Sabo, Chief Executive Officer
of CODI. "This strategic investment creates long-term alignment
between two complementary industry players, further positioning
Foam Fabricators as a leading one-stop solutions provider and
adding structural packaging elements, including fiber-based corner
posts, to its impressive offerings. We look forward to building on
this momentum in the months and years ahead."
About Foam Fabricators
Headquartered in Scottsdale,
AZ, Foam Fabricators is a leading designer and manufacturer
of custom protective packaging solutions and componentry made from
expanded polymers such as expanded polystyrene (EPS), expanded
polypropylene (EPP) and other advanced resins. Founded in 1957, the
company operates 16 state-of-the-art facilities across North America specializing in the production
and assembly of key components utilized in protective packaging,
OEM componentry and temperature-controlled containers. For more
information, please visit www.foamfabricatorsinc.com.
About Rational Packaging
Headquartered in Springfield,
TN, Rational Packaging designs and manufactures innovative
Structural Packaging components and systems that help customers
eliminate supply-chain damage while they Assemble, Lift, Load,
Stack, and Transport products to consumers. Rational Packaging
serves customers throughout North
America primarily in the Appliance, HVAC, Consumer Durables,
Information Technology, and Textile markets. Key product lines
include Structural Corner Posts, Clamp Braces, Edge Protection, and
Base Pads. For more information, please visit
www.rationalpackaging.com.
About Compass Diversified ("CODI")
CODI owns and manages a diverse family of established North
American middle market businesses. Each of its current subsidiaries
is a leader in its niche market.
CODI maintains controlling ownership interests in each of its
subsidiaries in order to maximize its ability to impact long-term
cash flow generation and value. CODI provides both debt and equity
capital for its subsidiaries, contributing to their financial and
operating flexibility. CODI utilizes the cash flows generated by
its subsidiaries to invest in its long-term growth and to make cash
distributions to its shareholders.
CODI's nine majority-owned subsidiaries are engaged in the
following lines of business:
- The design and marketing of purpose-built technical apparel and
gear serving a wide range of global customers (5.11);
- The manufacture of quick-turn, small-run and production rigid
printed circuit boards (Advanced Circuits);
- The manufacture of engineered magnetic solutions for a wide
range of specialty applications and end-markets (Arnold Magnetic
Technologies);
- The design and marketing of wearable baby carriers, strollers
and related products (Ergobaby);
- The design and manufacture of custom molded protective foam
solutions and OE components (Foam Fabricators);
- The design and manufacture of premium home and gun safes
(Liberty Safe);
- The design and manufacture of baseball and softball equipment
and apparel (Marucci Sports);
- The manufacture and marketing of portable food warming systems,
creative indoor and outdoor lighting, and home fragrance solutions
for the foodservice industry and consumer markets (Sterno);
and
- The design, manufacture and marketing of airguns, archery
products, optics and related accessories (Velocity Outdoor).
Contacts:
Foam Fabricators
Michael Hays, Vice President
(206) 954-9370
mhays@foamfabricatorsinc.com
Compass Diversified ("CODI")
Joele Frank, Wilkinson Brimmer
Katcher
Jon Keehner / Kate Thompson / Julia
Sottosanti
212-355-4449
View original
content:http://www.prnewswire.com/news-releases/compass-diversified-backed-foam-fabricators-announces-strategic-investment-in-rational-packaging-301126270.html
SOURCE Foam Fabricators