NCFI Polyurethanes Announce Sale of Consumer Products Division to Carpenter

NCFI Polyurethanes, a member of the Barnhardt family of companies, recently announced that the company has reached an agreement with Carpenter, headquartered in Richmond, Virginia, to divest NCFI's consumer products division in accordance with the agreement and terms. The transaction is expected to be completed on December 1, 2023.

NCFI President Chip Holton said: "This is truly an exciting time. This successful transaction with Carpenter will provide them with a solid long-term asset and the opportunity for us to focus even more on our dynamic core markets.

Chip Holton said: "Since NCFI's founding in 1964, the Consumer Products Division has been an integral part of our company's history. We have grown from a small foam product line to serving more than 100 markets, including aerospace, furniture, sports , medical, air and water filtration, transportation, automotive and performance foam bedding, including our own direct-to-consumer brand BedInaBox.

Chip Holton added: "We have worked with Carpenter for decades and this transaction makes sense for both companies. For us, it is a direct way to optimize the work of other departments, especially the fast-growing engineering Building Products Market.”

NCFI will focus on other sectors: Construction Foam – residential, commercial and agricultural SPF insulation, and SPF roofing systems; Geotechnical – for concrete lifting and leveling, soil stabilization, pore filling, port and seawall rehabilitation , polymers for highway/DOT applications, and custom solutions – rigid and flexible molding, integral skins, medical and construction.

"We at NCFI and the leadership of the Barnhardt family of companies believe this strategic alignment will enhance our ability to provide innovative solutions and best-in-class service to our customers around the world," said Chip Holton.