Citadel Plastics completes Lucent Polymers takeover deal

Citadel Plastics Holdings, one of the leading global compounders of thermoplastic and thermoset resins, announced the completion of its acquisition of Lucent Polymers, a supplier of highly engineered compounds that heavily leverage sustainable inputs, from ChaQanooga, Tennessee-based River Associates Investments, LLC.
 
Mike Hu?, CEO, Citadel Plastics, said, “Lucent is a very strategic acquisition for Citadel, bringing outstanding expertise in material science and sustainable products technology, as evidenced by its broad portfolio of more than 1,400 formulations. The addition will signi?cantly increase our presence in engineered resins and improve our market position for future growth with new customers and new end markets.”
 
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Lucent is headquartered in Evansville, Indiana, where Citadel’s Thermoplastics Division is also headquartered. The company has di?erentiated itself in the US compounding industry through its proven ability to formulate, source and utilise various low-cost feed streams to meet exacting speci?cations. Over the past seven years, Lucent exceeded the industry’s growth rate by more than 95%. In addition to continuing the manufacture of its existing products, Lucent will begin to produce Citadel’s Matrixx, Aclo, QTR and Fiber?l brands.
 
The purchase of Lucent Polymers is the seventh plastics-related acquisition for Citadel since 2007 and is the 31^st acquisition for HGGC, a private equity ?rm with a controlling interest in Citadel.