Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI) and a designer and manufacturer of custom protective and cold-chain packaging services for the industrials and life sciences markets, has agreed to purchase Lifoam Industries LLC.
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 company will be acquired for an enterprise value of $137 million in cash at closing. The deal will expand its capabilities in cold-chain packaging services.
“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.”