Polytek Acquisition
Press Release:
Polytek® Development Corp. Announces Acquisition of Neill’s Materials Ltd.
Easton, PA — September 21, 2023
Polytek® Development Corp., a manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicones, epoxies, and latex, has announced today the acquisition of Neills Materials Ltd., a distributor and key European partner of Polytek® Development Corp for RTV silicone, urethane, epoxy systems, and adhesive products. The acquisition was assisted by Arsenal Capital and will further enhance their investment portfolio.
Neill’s Materials, founded in 2014 and located in Bury Saint Edmunds, UK, has been an amazing partner and staunch advocate of Polytek® products over the past few years. Neill’s has a talented team with strong relationships and expertise in medical modeling, special effects, composites and other industrial markets.
Neill’s Materials will join the industrial division of Polytek®. The combined team will enable Polytek® to accelerate the goal of leveraging its North American success into the UK and in Europe. Doug Lorenz, CEO of Polytek®, remarked “This acquisition will increase our commercial and technical alignment with major European early adopters and market leaders to leapfrog our growth into key industrial segments while providing a steppingstone for future consumer European growth plans. Neill’s has an outstanding team of dedicated employees and we are very pleased to welcome Neill’s into the Polytek® family and anticipate significant success together.”
Justin Neill, Managing Director of Neill’s Materials, added “Having worked as the European Distribution partner for Polytek® Development for 27 years, it feels like a natural transition and an exciting opportunity to work as part of the company that formed the cornerstone of my career.”
About Polytek® Development Corp.
Started in 1984 and headquartered in Easton, PA, Polytek® Development Corp. is a leading manufacturer of specialty polymers solutions including: polyurethane elastomers and casting resins, silicones, epoxies, and latex. Polytek® is a recognized leader in molding, casting, and coating applications for industrial segments of construction, composites, special effects, and rapid prototyping as well as for a range of consumer applications serving crafters, makers, professionals, and hobbyists, everywhere they shop.
About Neill’s Materials Ltd.
Neills Materials Ltd are based in the United Kingdom and service both UK and Europe with silicones, polyurethanes, epoxy and adhesives, digital scanning and 3d printing products. They have a wealth of knowledge in prosthetics, automotive, rapid designs, and advanced composite applications.