Compass Diversified-Backed Foam Fabricators Announces Launch of Altor Solutions
February 03, 2021 at 08:00 AM EST
WESTPORT, Conn and SCOTTSDALE, Ariz., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Foam Fabricators, Inc. (the “Company” or “Foam Fabricators”), a leading designer and manufacturer of custom protective packaging solutions, today announced the launch of Altor Solutions (“Altor”). Altor, which is Latin for guardian or protector, reflects the Company’s diverse product offerings across packaging, insulation and componentry (PIC) and includes manufacturing industry leaders Foam Fabricators, Polyfoam and Rational Packaging.
Over the past three years, and with the support of Compass Diversified (NYSE: CODI), an owner of leading middle market businesses that acquired the Company in 2018, Foam Fabricators has transformed its business, which historically focused on molded foam products, into a full-service PIC solutions provider. The new parent company name reflects this transition and establishes Altor as a dynamic, engineering-driven company with the goal of designing and producing superior products that help customers solve their PIC needs with a wide range of material choices.
“The launch of the Altor Solutions brand is a key milestone as we continue to add new materials and technologies to our offerings and reposition the Company as a one-stop shop for customers,” said James Hughes, CEO of Altor. “We are proud of Foam Fabricators’ roots dating back to 1957, and we look forward to building on its legacy as part of a larger, diversified platform. Altor will leverage a wide range of materials from traditional plastics to organic and plant-based options, and our packaging, insulation and componentry can be applied to multiple end-markets. As we continue to scale and expand our geographic reach, we will further establish Altor as the leading packaging solutions provider for customers across North America.”
“Demand for protective and thermal packaging has increased dramatically, and Foam Fabricators has proven to be a true partner in solving customers’ most complex challenges by creating superior products and delivering speed to market,” said Elias Sabo, CEO of Compass Diversified. “The team has expanded its offering and footprint to meet today’s needs, and this rebranding is a testament to the success of their hard work. We look forward to supporting Altor as it builds on this strong foundation."
About Altor Solutions
About Compass Diversified (“CODI”)
Leveraging its permanent capital base, long-term disciplined approach and actionable expertise, CODI maintains controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability.
Our ten majority-owned subsidiaries are engaged in the following lines of business:
Jonathan Keehner / Kate Thompson / Julia Sottosanti
Source: Altor Solutions and Compass Diversified Holdings