On October 1, 2021, Epsilyte Holdings LLC, a portfolio company of Balmoral Funds LLC and a Texas-based provider of advanced materials for building insulation, cold-chain packaging and personal safety equipment, acquired StyroChem Canada Ltd. from PMC Capital Partners, LLC.
Established in 1975 and headquartered in Quebec, Styrochem was one of the first manufacturers of expanded polystyrene (“EPS”) and is currently a leading producer of EPS in North America. The acquisition creates one of the largest producers of EPS in North America and will enable Epsilyte to operate three production sites, employ more than 300 associates and provide services in more than 20 countries.
Cassels acted as Canadian counsel to Epsilyte.