PITTSBURGH, PA — SYNTHEON® Inc. (SYNTHEON), the Pittsburgh manufacturer of the ACCEL-E® Steel Thermal Efficient Panel wall system and ELEMIX® concrete additive, has been acquired by Headwaters AG, LLC and other private investors from NOVA Chemicals for an undisclosed sum. The acquisition of all SYNTHEON shares became effective December 4, 2012.
The acquired SYNTHEON businesses encompass ACCEL-E, ELEMIX and the SYNTHEON Chile operations, including its building products business and packaging business.
“There are many fundamental forces which are transforming the construction industry from being mainly a field-erected industry to an industry characterized by highly-engineered and energy-efficient materials, components, assemblies and systems, which are manufactured and fabricated for high performance,” stated Christian Echavarria, President & COO of Headwaters.
Ricardo Wiener Strauss, the former General Manager of NOVA Chemicals Chile Limitada, has been named CEO of SYNTHEON. “The acquisition of the portfolio of businesses gives us a strong global presence and foundation to build a premier enterprise,” stated Mr. Wiener Strauss. He continued that “Our focus for SYNTHEON will be to create an innovative family of products to provide a High-Performing Branded Green Envelope to the building and construction industry and expand other business lines that leverage the manufacturing assets of the company.”
The new SYNTHEON President for North America is Peter A. Humphrey, P.E., whose previous position with the company was Director of Design and Engineering. Mr. Humphrey has 22 years of experience in building and construction as both a structural engineer and project manager.
“As part of the strategic portfolio of building and construction products for SYNTHEON, the ACCEL-E and ELEMIX product lines will accelerate the growth of the business,” said Mr. Humphrey. “We are excited about the potential for these innovative product solutions as part of our larger growth initiative in the building and construction industry.”
SYNTHEON practices engineered sustainability – an approach to continuously evolving building performance
that is verifiable and produces consistent, permanent high-performance solutions. These solutions significantly minimize waste and the resources needed during and after the construction process. Offering innovative products and services, SYNTHEON building components reduce energy usage, and reduce project cost by cutting construction time and more efficiently utilizing labor.
SYNTHEON’s ACCEL-E Steel Thermal Efficient Panel wall system combines the strength of cold-formed steel framing with the insulation properties of expanded polystyrene (EPS). The result is a thermally resistant, high performance building system that’s strong, light in weight and energy efficient. ACCEL-E offers a host of advantages over conventional building techniques including energy efficiency, faster installation time, labor savings, and more.
ELEMIX is an innovative and proven concrete additive made of specially engineered polymeric spheres – lightweight synthetic particles (LSP) – that disperse uniformly throughout a concrete mix to replace a significant volume and weight of both normal and lightweight aggregate, while ensuring uniform strength for use in a wide variety of structural and nonstructural concrete applications as well as controlled low strength fill and grouting applications.
SYNTHEON Latin America
The SYNTHEON operation in Chile offers innovative products and efficient solutions. Its diverse line of products is expected to include the following: Insulated Deck Forms using Plastbau® technology that combines the insulating capabilities of modified EPS with steel inserts: Insulated Roofing Panels; Curtain Wall Panels; Partition Panels; Rigid Insulation Board; Structural Insulated Panels; and Insulated Concrete Forms.
SYNTHEON Inc. (www.syntheoninc.com) serves as a source in the building and construction industry for advanced high-efficiency products and services designed to change the way buildings are built and experienced.
Headwaters provides advisory and direct investment services to business-owning families and family offices. Headwaters delivers extraordinarily good results for clients through offering Six Core Services to support Business Growth, Company Capitalization, Generational Transition, and Shareholder Liquidity, plus Family Office Direct Investments (FODIS) and Private Company Equity Oversight (PCEO). Over its thirty years in business, Headwaters has completed over US$12 billion in capital transactions.