Altor Solutions (“Altor”), a subsidiary of Compass Diversified (NYSE: CODI) and a leading designer and manufacturer of custom protective and cold-chain packaging solutions for the industrial and life sciences markets, today announced it has entered into a definitive agreement to acquire Lifoam Industries, LLC (“Lifoam”), a manufacturer and distributor of temperature-controlled shipping solutions, for an enterprise value of $137 million in cash at closing (excluding working capital and certain other adjustments).
Founded in 1954, Lifoam is a leading 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 acquisition of Lifoam will expand Altor’s presence in the cold-chain packaging sector and diversify its customer base with blue-chip cold-chain accounts. Lifoam brings significant synergies and enhancements to Altor, including seven manufacturing locations across the U.S. As an engineering-focused organization, Lifoam utilizes advanced computer-aided engineering and thermal molding capabilities to design and validate products, which are then qualified and pre-certified in two ISTA Standard 20 certified labs, equipped with three walk-in and two reach-in thermal testing chambers.
“This acquisition is a pivotal step in accelerating Altor’s long-term strategy to expand our capabilities, particularly in cold-chain packaging solutions,” said Altor’s CEO Terry Moody. “By acquiring Lifoam, we gain infrastructure, design, and certification capabilities. We believe Lifoam’s specialized expertise will attract new customers and enable us to better serve our existing customers with a broader range of new products and expanded geographic coverage.”
The acquisition is expected to close in September, subject to customary closing conditions.
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About Altor Solutions
Based in St. Louis, Missouri, Altor Solutions is an innovative, engineering-focused company dedicated to designing and manufacturing top-quality industrial protective packaging products and cold-chain packaging solutions and services for the life sciences and perishable goods sectors. Established in 1957, Altor Solutions offers a diverse range of materials, including traditional plastics and sustainable, plant-based options. The company operates 16 advanced facilities across North America, specializing in the production and assembly of essential components for protective packaging, OEM parts, and temperature-controlled containers. For more information, please visit www.altorsolutions.com.
About Lifoam
Lifoam Industries, LLC is a leading manufacturer of thermally controlled packaging solutions. Founded in 1954, Lifoam operates seven state-of-the-art manufacturing, warehousing and distribution facilities across the United States, specializing in the production of EPS coolers, refrigerant gels, and innovative packaging solutions tailored for healthcare/pharmaceutical, seafood/commercial, and retail end markets. With a commitment to sustainability and innovation, Lifoam is at the forefront of developing environmentally-friendly packaging alternatives.
