Altor Lifoam Agreement – Terry Moody, Altor CEO
I am excited to announce that Altor Solutions, a subsidiary of Compass Diversified, is entering into an agreement to acquire Lifoam Industries LLC (“Lifoam”), a leading manufacturer and distributor of temperature controlled shipping solutions. The acquisition is expected to close in mid to late September.
This strategic acquisition marks a pivotal step in advancing Altor’s long-term strategy to enhance our industrial and cold-chain packaging solutions. With Lifoam, Altor will expand its geographic footprint to an industry leading 23 facilities, strengthening our ability to serve national accounts across the U.S. and Mexico. We will also gain valuable technical expertise, furthering our commitment to delivering innovative, sustainable solutions.
Our vision is to lead the industry by driving a regenerative circular economy. This merger enhances our operational capabilities, allowing us to offer a broader range of products and expanded geographic coverage, ultimately attracting new customers and better serving our existing ones.
Our combined strengths of talented people and environmentally friendly practices align with Altor’s broader ESG goals. The Lifoam innovation of Bioffex, a plant-based alternative to expanded polystyrene, exemplifies our commitment to sustainability. Also, Lifoam brings a core competency of product certifications through ISTA Standard 20 lab capabilities equipped with state-of-the-art thermal testing chambers. We look forward to continued innovation and growth, generating long-term value for all our stakeholders.
As a valued customer, your interests remain at the forefront of this transition. Existing agreements will continue seamlessly, ensuring uninterrupted service. This acquisition empowers us to simplify communication and enhance service delivery, providing superior protection for your products.
Altor Solutions is committed to partnering with you at every stage of your product’s lifecycle, ensuring the protection and success of your products with our advanced solutions, including BioEPS, our biodegradable EPS foam. Should you have any questions or wish to discuss the acquisition, please reach out to me.
Thank you for your continued support and trust in our company. Together, we will set new industry benchmarks and achieve our shared goals further establishing our position as leaders in sustainable packaging solutions.
Terry A. Moody
CEO, Altor Solutions