Compass Diversified announced that its subsidiary, Altor Solutions, a manufacturer of custom protective and cold-chain packaging solutions for the industrial and life sciences markets, completed its previously announced acquisition of Lifoam Industries, LLC.
The acquisition was completed for an enterprise value of $137 million (excluding working capital and certain other adjustments).
Founded in 1954, Lifoam is a manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for the healthcare, commercial and retail industries. Lifoam is a carve-out of the material sciences company Jadex Inc.
“The addition of Lifoam will bring valuable new infrastructure and specialized expertise to Altor, specifically through the enhancement of our market reach and advancements in our cold-chain technology,” said Terry Moody, CEO of Altor. “We look forward to the combined success of Altor and Lifoam as we drive growth together.”
“We are pleased to announce the closing of Altor’s acquisition of Lifoam, and we welcome them to the CODI team,” said Elias Sabo, CEO of Compass Diversified. “This acquisition represents a significant advancement in Altor’s long-term strategy, enhancing their capabilities and expanding their ability to serve both existing and new customers.”
Altor is part of CODI’s Niche Industrial segment, which also includes Arnold Magnetics and Sterno. Its Branded Consumer segment includes 5.11, BOA, Ergobaby, Lugano, PrimaLoft, The Honey Pot Co. and Velocity Outdoor.
