CLEVELAND, Ohio – Edgewater Capital Partners, a private equity firm focused on investing in performance materials businesses, announced the acquisition of the polymer components business from EnPro Industries, Inc. (NYSE: NPO), an industrial technology company based in Charlotte, North Carolina. Financial terms were not disclosed.
The organization has been renamed Altamira Material Solutions and will include existing site leadership and employees. Altamira is composed of three production sites, two in Texas and one in Pennsylvania, and enjoys a diverse customer base of custom PTFE and engineered polymer products utilized in applications in semiconductor, aerospace & defense, oil & gas, and industrial markets
“We are excited to have Altamira join the Edgewater family of companies. The business’ mission-critical products, backward integration into PTFE blends, flexible and agile manufacturing operations from prototype to large scale production, fast lead times, clean room capabilities, depth and tradition in engineering and material science, and relationship with blue chip customers in high-value market segments makes Altamira a leader in its market. We are eager to unlock the potential of this organization and build on the significant capabilities and expertise of the Altamira team,” said Robert Girton, Partner, Edgewater Capital and Chairman of Altamira.
Edgewater retained Taft Stettinius & Hollister LLP as legal counsel.