Argotec Acquires Stevens Urethane

Wind Point Partners today announced that portfolio company Argotec has acquired Stevens Urethane, a division of JPS Industries, Inc. (JPST.PK). Stevens is Argotec’s first acquisition.

Based in Greenfield, Mass., Argotec is a manufacturer of specialty polyurethane film and sheet, providing cutting-edge products to a variety of end markets, including surface protection, medical and graphics.

Wind Point acquired Argotec in partnership with Guy Broadbent, who joined as CEO. Guy has 27 years of experience in the plastics, specialty chemicals and technical / manufacturing industries, most recently serving as CEO of Xcellerex, an early stage bio-manufacturing business. Prior to that, Guy was President of the $1.8 billion Laboratory Products Group at ThermoFisher Scientific.

Paul Peterson, a managing director at Wind Point, commented, “Part of our original value creation plan at Argotec was to acquire businesses that gave Argotec access to new customers and new products. The Stevens acquisition is a great opportunity to expand into complementary markets with minimal customer overlap.”

Guy Broadbent, CEO of Argotec, stated, “Stevens is an ideal fit for Argotec. Stevens brings Argotec new technical and manufacturing resources that will allow us to meet the rapidly increasing global demand for TPU film and sheet. We look forward to continuing to meet our customers’ application challenges and provide the excellent products and high level of customer service that Stevens and Argotec customers expect.”