On June 21, Owens Corning announced that it has acquired Natural Polymers, LLC, a spray polyurethane foam insulation manufacturer. The agreement is subject to regulatory approvals and other customary conditions. It is anticipated to close in the third quarter.
This acquisition advances Owens Corning’s strategy to strengthen our core building and construction products and expand our addressable markets into higher-growth segments, Natural Polymers’ proven technology enables us to offer our customers a more diversified insulation product portfolio and solidify our commitment to provide long-term, sustainable solutions.”
Todd Fister, president of Owens Corning’s Insulation business.
Natural Polymers is committed to developing high-quality products and systems, including some of the spray foam industry's lowest-volatile organic compound products. Many of the company's products are GREENGUARD Gold Certified by Underwriter's Laboratories, a third-party standard designed to help reduce indoor air pollution and chemical exposure.
Over the last several years, we’ve seen many advancements in the overall spray foam industry, from standardized installer training to product enhancements that make the material a much more attractive solution, Natural Polymers’ focus on product development provides Owens Corning with a foundation upon which we can use our material science knowledge to drive innovation and differentiate the business.”
Mr. Fister.
Natural Polymers anticipates sales of around $100 million in 2022. The company has a strong track record of above-market growth and is expected to maintain double-digit growth over the next several years.
I am excited by this transaction and believe Owens Corning is best suited to accelerate the business’ growth, benefiting our customers and supporting our vision to build the best spray polyurethane foam brand in the industry. Together, I believe we have the best people, technology, and capabilities.”
Benjamin Brown, President and Chief Executive Officer of Natural Polymers.
Brown will join Owens Corning in an innovation leadership role.
The financial terms of the deal have not been disclosed.