GEON Makes a Big Acquisition of Foster in January 2025

GEON Performance Solutions, a global leader in high-performance polymer material solutions formulation, development, and manufacturing, announced on January 7, 2025, the completion of its acquisition of Foster Corporation. Foster Corporation is renowned for providing customized biomedical polymer composite technologies and services to medical device manufacturers, focusing on formulation development and production services, including radiopaque fillers, colors, and other specialty additives in polymer materials.

Foster Corporation is headquartered in Putnam, Connecticut, and has established supply chain partnerships in Europe and Southeast Asia, with three production facilities and two distribution centers in the United States, employing around 200 people. Larry Acquarulo, President and CEO of Foster, stated: “GEON is the ideal partner to leverage Foster’s strengths and enhance its capabilities. We believe that Foster’s commitment to quality and innovation will continue at GEON, and that we will be better positioned to meet our customers' unique needs.”

This acquisition significantly enhances GEON's involvement in the high-end medical market. Currently, GEON provides rigid and flexible PVC and TPE solutions as well as contract manufacturing services to medical clients. GEON's facility in Clinton, Tennessee, has received ISO 13485:2016 certification, which is the international standard for medical device manufacturing. Similarly certified, Foster Corporation offers formulation, R&D, and production of customized medical compounds, implantable materials, engineering polymers, thermoplastic polyurethane elastomers, and polymer-enhanced materials. Additionally, Foster provides a range of manufacturing services in cleanroom environments.

As part of GEON, Foster Corporation will take over GEON's existing medical business, leveraging GEON's R&D capabilities, sales network, and production capacity to provide higher-quality solutions and support services to the medical end market. This acquisition marks GEON's fourth acquisition since 2020 and the second acquisition in the past year, reflecting a vital component of the company's strategy to enrich and expand its engineering polymer solutions portfolio and enhance its ability to serve customers globally. In December 2023, GEON successfully acquired Polymax TPE, adding thermoplastic elastomers to its product lineup.

About GEON Performance Solutions

GEON Performance Solutions is a global leader in the formulation, development, and manufacturing of high-performance polymer material solutions. With a highly adaptable portfolio of vinyl and polyolefin polymer technologies and comprehensive manufacturing services, GEON merges three traditional businesses into one. GEON is a leading innovator in the development of high-performance material solutions that are applicable across a wide range of markets, including appliances, construction, electrical and electronics, healthcare, transportation, wire and cable, and consumer goods. GEON employs over 1,200 people globally and operates 15 world-class manufacturing facilities, headquartered in Cleveland, Ohio, and is a portfolio company of SK Capital Partners.

About SK Capital Partners

SK Capital is a private investment firm focused on specialty materials, chemicals, and biomedical sectors. The firm is committed to building resilient, sustainable, and growing businesses to create substantial long-term economic value. SK Capital aims to leverage its industry, operational, and investment experience to identify opportunities to transform companies into high-performance organizations with improved strategic positioning, growth, profitability, and reduced operational risk. The SK Capital portfolio generates approximately $17 billion in annual revenue, employs over 25,000 people globally, and operates more than 200 facilities in over 30 countries. The firm currently manages assets of approximately $7.9 billion.