GEON Strengthens Medical Polymers Portfolio with Foster Corporation Acquisition

This is GEON's fourth acquisition since 2020 and its second acquisition in the last year – a key component of its strategy to enhance and diversify its portfolio of engineered polymer solutions and further expand its global footprint for customers. In December of 2023, GEON acquired PolymaxTPE, adding thermoplastic elastomer to its material portfolio. 

The acquisition of Foster Corporation enhances GEON's participation in the high-value medical market. Currently, GEON offers rigid and flexible polyvinyl chloride (PVC) solutions, thermoplastic elastomer (TPE) solutions, and contract manufacturing services to healthcare customers. Its Clinton, Tennessee, facility is ISO 13485:2016 certified, which is the medical industry's international standard for the manufacture of medical devices.

Foster Corporation, which is also ISO 13485:2016 certified, offers formulation, development and production of custom medical compounds, implantable materials, engineered polymers, thermoplastic polyurethane elastomers and polymer enhancements. It also offers a range of services in clean and white room manufacturing facilities.

Strengthening Global Footprint

'GEON is the ideal partner to leverage Foster's strengths and augment its capabilities to better serve unique customer needs,' said President and CEO of Foster Corporation, Larry Acquarulo. 'We are proud that Foster's commitment to quality and innovation will live on with GEON.'

Foster Corporation is headquartered in Putnam, Connecticut, and has supply partnerships in Europe and Southeast Asia. The business operates three manufacturing locations and two distribution centers in the United States and employs approximately 200 people.

As part of GEON, Foster Corporation will be the face to the medical end market, including GEON's existing volumes, and will leverage GEON's development capabilities, salesforce and extensive capacity. 

Benesch, Friedlander, Coplan, & Aronoff LLP acted as legal counsel for GEON. NorthView Advisors, LLC served as investment advisor to GEON. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel for Foster, and Covington Associates, LLC served as the company's investment advisor.

Source: GEON® Performance Solutions