McCLARIN Composites announces acquisition of select molding business and assets of Materia Inc.
McClarin Plastics LLC completed a strategic acquisition and relocation of select polyolefin thermoset molding facilities from Materia Inc. – an ExxonMobil wholly owned affiliate. The transaction included a supply agreement for Proxxima resin systems for high performance composites and molded thermosets.
McCLARIN Chief Executive Officer Michael Gromacki stated, “This transaction launches a broader strategic growth relationship between McCLARIN and the ProxximaTM business, leveraging innovation and scale to decarbonize high performance composites, enable cleaner and faster machine-driven closed molding, and open potential channels for advanced recycling and circularity for high growth segments in Mobility and the Built Environment.”
Grace Matthews, Inc. served as advisor to McCLARIN on the transaction. Pathward®, N.A. and Patriot Capital supported the strategic growth investment through a refinance of the company’s debt facilities.
About McCLARIn Composites:
McCLARIN is a leading tier one manufacturer of composites for Mobility and the Built Environment. Mobility segments include Rail, Heavy Truck, Bus, RV and Military. Built Environment segments including Aerial Lift/Platforms, Construction, Agriculture, Energy, and Infrastructure. The company is based in Hanover, PA and has additional manufacturing locations in Oklahoma City, OK and Wapato, WA.
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