Chemical Management
Shrieve | January 11, 2024
Shrieve Chemical Company a portfolio company of Gemspring Capital and a leading, value-added chemicals distributor, announced that it has acquired TLC Ingredients ("TLC"), a distributor of food ingredients, industrial chemicals, and phenolic resins based in Crest Hill, Illinois. Terms of the transaction were not disclosed.
Founded in 2001, TLC has built a reputation as a premier distributor, distinguished by a dedication to operational excellence, food safety, and responsible distribution. With a class-leading facility in the Midwest, the company is well-equipped to meet the evolving needs of customers with high service levels.
The acquisition expands Shrieve's presence in the Midwest and enhances the company's ability to serve the attractive – and growing – food ingredients end-market. Additionally, it positions Shrieve strategically to leverage its existing product lines to serve TLC's high-growth specialty industrial customers, who have relied on TLC as a trusted supplier of Durez phenolic resins for more than two decades.
"I am thrilled to welcome TLC Ingredients to the Shrieve Chemical family. This acquisition underscores our commitment to excellence and focus on long-term growth as we look to thoughtfully increase our presence and the value-added services we can provide across the country," said George Fuller, CEO of Shrieve. "The TLC team has built an exceptional business with an industry-leading distribution facility, long-standing supplier relationships, and a broad product offering that serves several attractive global end-markets. TLC's expertise, innovative approach, and customer focus aligns very well with our broader strategic vision. Together, we look forward to delivering enhanced value to our customers and supplier partners."
"We are excited about the future as we partner with Shrieve and continue to expand, building on our reputation as one of the highest-quality food ingredient and chemical distributors in the United States," said Tommy Turiff, President of TLC Ingredients. "Our shared commitment to excellence and dedication to our customers make this an ideal partnership. We look forward to bringing our combined expertise and capabilities to the market and continuing to serve our customers with enhanced resources and innovation."
About Shrieve
Shrieve, based in The Woodlands, TX, is a leading, value-added chemicals distributor serving attractive markets and end-use applications globally. Since its founding in 1978, Shrieve has leveraged its knowledge network to find the best match between suppliers, customer needs, and product applications. Through its four operating segments, Chemical Distribution, Specialty Lubricants and Enhancers, Energy Products and Services, and Custom Packaging, Shrieve markets nearly 1,500 products across more than 40 countries.
About TLC Ingredients
Based in Crest Hill, IL, TLC Ingredients is a distributor of food ingredients, industrial chemicals, and phenolic resins. The company was founded in 2001 and provides its customers and suppliers with the highest levels of service. TLC's corporate culture is built on the twin pillars of Food Safety and Responsible Distribution.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.5 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors.
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Chemical Management
LyondellBasell | January 24, 2024
LyondellBasell (LYB), a global leader in the chemical industry, is proud to announce the release of a cross-linkable, all-in-one flame-retardant compound, Petrothene T3XL7420, which is expected to deliver considerable cost savings while streamlining manufacturing processes. This new product offering also improves the quality of end products for wire producers in the automotive and appliance industries. Based on customer demand and industry need, LyondellBasell designed this innovative compound to address the need to optimize production line speeds and enhance manufacturing efficiency.
Petrothene T3XL7420, is specifically formulated for use in Society of Automotive Engineers (SAE) primary wire applications, International Organization for Standardization (ISO) thin wall applications, and Underwriters Laboratories (UL) and Canadian Standards Association (CSA) appliance wire. Petrothene T3XL7420 offers several benefits that make it an attractive option for wire producers, including enhanced cure kinetics, increased stiffness for easier small gauge wire assembly and better barrier performance compared to other Petrothene XL.
"Developing innovative solutions to address the ever-evolving needs of our customers is an important aspect of how we operate and continue to grow our market share," said Palmer Giddings, vice president Polyolefins at LyondellBasell. "Providing cost effective and efficient solutions that are UL and CSA certified, gives us a market advantage for this one-of-a-kind solution."
Petrothene T3XL7420 has undergone rigorous testing and certification processes to ensure its quality and reliability. With this latest development, LyondellBasell reinforces its position as a leading provider of innovative solutions for the wire and cable industry and expects this compound to become the product of choice for a wide range of automotive and appliance wiring applications.
About LyondellBasell
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.
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Chemical Management
Charter Next Generation | January 30, 2024
Charter Next Generation (CNG), a leading provider of sustainable films, announced that it has expanded its GreenArrow portfolio with a new line of cavitated polyethylene (PE) films. Developed in collaboration with VOID Technologies (VOID), the new recycle-ready films meet the rapidly growing demand for flow wrap and confectionery applications. Using VOID's patented VO+™ PE Voiding Agent Masterbatch and Machine Direction Orientation (MDO) film processing, CNG has successfully developed high-performing PE film structures that are opaque yet compatible with existing PE recycling streams making more packaging suitable for recycling.
Adoption of MDO PE film is a rapidly growing industry trend as it enables recyclable, high-performing flexible packaging. By using VO+ Masterbatch, CNG can now produce thin gauge voided MDO PE films that offer a combination of low density and high opacity not achievable with mineral additives such as TiO2 pigments or CaCO3 cavitation agents. This innovation creates a unique PE-based recycle-ready alternative to conventional PP-based substrates that often require biaxial orientation.
"CNG continues to raise the bar and re-invent packaging with a sustainability-first mindset. Using VOID's patented VO+ technology enables us to achieve the high opacity, ease of processing, and recycle-ready performance we are targeting for these films. This in turn allows our customers to reduce their use of virgin materials and process their packaging in existing polyethylene film recycling streams," said Brent Greiner, Vice-President of Technology at Charter Next Generation.
The VO+ PE Masterbatch is added to PE resin to create nano and micro-scale voids, reducing density and creating high levels of opacity via light scattering through the voided structure. VOID's latest VO+ PE Masterbatch product is compliant with direct food contact standards in North America and Europe and has passed key recycling standards.
James Gibson, CEO of VOID Technologies, commented, "CNG is a highly innovative and forward-thinking company. We are delighted with this collaboration and to be part of launching this new generation of recycle-ready voided PE films. As we look to the future, we are excited to be working with CNG across a range of projects that directly address sustainability and recycling targets."
About Charter Next Generation
Charter Next Generation (CNG) is North America's leading producer of highly engineered solutions used in the food, consumer, healthcare, and industrial markets. Committed to a sustainability-first approach, CNG leverages material science to engineer materials that help companies meet and exceed their sustainability goals. Known for world-class manufacturing capabilities and an innovation-driven approach, CNG operates fifteen facilities and employs over 2,200 employees and is a proud partner of Ownership Works®—a nonprofit partnering with companies to enable shared ownership, granting employees a stake in the value they create.
About VOID Technologies
VOID is a materials science company accelerating the transition to more sustainable plastics and packaging. The company combines its VO+ cavitation technology and R&D labs to help plastic and packaging companies rapidly develop new innovative products with a reduced environmental footprint. VOID's extensively patented VO+ technology was first conceived as part of a research initiative at Kimberly-Clark. Soon after, in 2015, VOID was launched as an independent company. Today, VOID has R&D labs and a compound manufacturing facility based in Neenah, Wisconsin (USA) and has commercial teams in Canada, France, and the UK.
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