IntegriCo Composites Announces Strategic Expansion of Product Line while Maintaining Continued Focus on Recycled Plastic Sustainability Solutions
SAREPTA, La., Feb. 11, 2021 /PRNewswire/ -- IntegriCo Composites, a leader in the composite industrial products manufacturing industry, today announced a strategic expansion plan that includes entering two high-growth markets – pipeline skids, and construction matting parts – following a comprehensive review of key markets.
IntegriCo bolsters existing rail tie production with entry into pipeline skids and construction matting parts.
The expansion into new markets with strong growth potential builds on IntegriCo's track record for manufacturing high performance rail industry products that have a positive environmental impact. These new products will add to IntegriCo's existing rail tie production, which mixes recycled landfill-bound plastic to create composite railroad ties. IntegriCo will continue to focus on driving sustainability solutions which includes over a decade of diverting and reusing approximately 80 million pounds of landfill bound plastics, to replace products that are traditionally made from wood with recycled plastics.
In tandem with the repositioning, Nicholas Singer has been named Executive Chairman and is responsible for day-to-day management of the Company, with support from Daniel Lyons, who was appointed Vice President of Corporate Development; Scott Stewart, who was appointed Vice President of Operations; and Bryan Kelley, who serves as Plant Manager.
"We're excited about our leading position in new markets with substantial future growth opportunities," said Singer. "We have established trust with our vendors and customers, and positioned the business on strong financial footing that will serve as a springboard for continued growth while continuing to benefit the environment."
Composite materials are rapidly gaining importance in the energy industry for their durability and benefit to the environment. Through IntegriCo's specialized process and industry-leading technology, the Company's pipeline skids and construction matting parts are highly resistant to rot, insect, and chemical damage. Additionally, IntegriCo's composite matting parts do not absorb construction site and drill site liquid contaminants which make them easy to dispose of at end of life. IntegriCo's products are made of 100% recycled plastic and are easier to clean than wood products which enables them to be transported across state lines without environmental concerns.
The strategic repositioning follows a recapitalization led by affiliates of Purchase Capital LLC, Singer's family office, with participation from Acadia Woods Partners, LLC.
About IntegriCo Composites
IntegriCo Composites is a leading manufacturer of composite products created from 100% recycled plastic. Utilizing best-in-class technology that blends otherwise landfill-bound plastics, this U.S. based company is creating ecologically sustainable solutions through its development of durable composite railroad ties, construction and rig matting parts, pipeline skids and other related products. IntegriCo's composite plastic products are primarily sold to railroad, E&P, pipeline, and industrial companies.
About Purchase Capital
Purchase Capital is an investment firm that provides patient capital for private and public companies with significant potential for long-term value creation. The firm looks broadly across asset classes and industries, takes a concentrated approach toward deploying capital, and is flexible with regard to debt or equity. Purchase Capital serves as the family office to veteran investor and entrepreneur Nicholas J. Singer, and as a sponsor to leading institutional investors, endowments, and foundations.
About Acadia Woods Partners
Acadia Woods Partners, LLC is a New York-based investment firm which primarily invests in companies operating in the technology, software, and life science sectors.