E-shots Web-exclusive: PolyOne to purchase GLSE-shots Web-exclusive: PolyOne to purchase GLS

PolyOne (Avon Lake, OH; www.polyone.com), the largest independent compounder worldwide, has signed a definitive agreement to acquire GLS Corp. (McHenry, IL; www.glscorp.com). GLS is a privately held, specialty TPE compounder that supplies materials for consumer and medical applications with reported annual sales of approximately $130 million. Industry sources estimate a purchase price close to this annual sales figure, but GLS owners, the Dehmlow family, declined to specify terms of the agreement.

What makes GLS such an attractive acquisition for the $2.6 billion PolyOne? For one, GLS has more than 1200 current customers globally, and it also comes with manufacturing facilities in both the United States and China. And it doesn’t hurt that the company has posted double-digit revenue growth every year for the past 10 years.

“GLS is a very important strategic acquisition and the kind of company that we have been carefully seeking to become a significant part of PolyOne’s business portfolio,” says Stephen Newlin, PolyOne chairman, president, and CEO. “The GLS management team has built a terrific brand, and it is a customer-centric growth company. Its people and technology will be valuable additions to the PolyOne team. Combining GLS’s technological capabilities with PolyOne’s global infrastructure and commercial presence uniquely positions us to capitalize on the expanding TPE market.”