Rhino Linings Corporation (“Rhino Linings”), a global provider of protective polyurethane, polyurea, polyaspartic and epoxy coatings is excited to announce the acquisition of BioBased Insulation®, a division of BioBased Technologies® LLC. At the same time, BioBased Technologies® LLC, a leader in the sales and marketing of Agrol®, a bio-based family of polyols used in manufacturing, is acquiring the Soyol® polyol and related technology assets from Rhino Linings.
The strategic alliance of both companies will allow BioBased Technologies® LLC to focus on thedevelopment and continual improvement of renewable and sustainable solutions for the chemical industry with a large portfolio of bio-based polyols, and Rhino Linings to focus on spray foam systems for residential and commercial insulation. BioBased Insulation® is Rhino Linings’ second acquisition in the soy system business this year. Earlier this year, Rhino Linings acquired Soyol® polyol technology from Urethane Soy Systems Company.
“This acquisition strengthens our commitment to be one of the leading spray system providers by expanding our current product line and offering the best products available,” says Pierre Gagnon, President and CEO of Rhino Linings Corporation. “The spray foam insulation market is experiencing rapid global growth. We are now positioned to have a stronger footprint in this business.”
“We’re excited about the opportunity for growth that this exchange gives our company. The acquisition of the Soyol® group of technology will strengthen our ability to meet our customers’ needs to provide greener solutions to the market place,” adds Amy Sorrell, CEO of BioBased Technologies.
BioBased Insulation® spray polyurethane products help to lessen the environmental impact of residential and commercial structures. The biggest benefit to the environment comes from the performance of the products which increase the energy efficiency of buildings and reduces their carbon footprint.
Rhino will relocate BioBased Insulation® operations to the Rhino facilities in Carrollton, TX. Terms of the acquisition were not released.
About Rhino Linings Corporation:
Rhino Linings Corporation, established in 1988 and headquartered in San Diego, California, is a privately-held corporation and world leader in sprayed and/or rolled urethane, polyaspartic and epoxy coatings and linings for industrial, municipal and residential applications. Business units include Vehicle Protection, Industrial, Epoxy, Flooring and Military. Rhino Linings Corporation has a global retail and industrial applicator network consisting of more than 2000 independently owned businesses and contractors in almost 80 countries and is the first ever spray-on bed liner company to achieve the ISO 9001 certification.
Source: Rhino Linings Corporation, press release, 2012-12-11.