Compass Diversified-Backed Foam Fabricators Announces Launch of Altor Solutions

Rhea-AI Summary

Foam Fabricators, a leader in custom protective packaging, has rebranded as Altor Solutions. This change reflects its expansion beyond molded foam into a full-service provider of Packaging, Insulation and Componentry (PIC). Supported by Compass Diversified (NYSE: CODI), the company aims to enhance its product offerings and geographic reach. The rebranding aligns with a growing demand for protective packaging solutions and positions Altor as a partner in solving complex customer challenges. Founded in 1957, Altor operates 17 facilities across North America.

Positive

• Rebranding as Altor Solutions reflects expansion into a full-service PIC provider.
• Supports growing demand for protective and thermal packaging.
• Benefits from Compass Diversified's backing, enabling operational flexibility.

Negative

• None.

New Parent Company Name Reflects Leading Diversified Packaging Platform

WESTPORT, Conn and SCOTTSDALE, Ariz., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Foam Fabricators, Inc. (the “Company” or “Foam Fabricators”), a leading designer and manufacturer of custom protective packaging solutions, today announced the launch of Altor Solutions (“Altor”). Altor, which is Latin for guardian or protector, reflects the Company’s diverse product offerings across packaging, insulation and componentry (PIC) and includes manufacturing industry leaders Foam Fabricators, Polyfoam and Rational Packaging.

Over the past three years, and with the support of Compass Diversified (NYSE: CODI), an owner of leading middle market businesses that acquired the Company in 2018, Foam Fabricators has transformed its business, which historically focused on molded foam products, into a full-service PIC solutions provider. The new parent company name reflects this transition and establishes Altor as a dynamic, engineering-driven company with the goal of designing and producing superior products that help customers solve their PIC needs with a wide range of material choices.

“The launch of the Altor Solutions brand is a key milestone as we continue to add new materials and technologies to our offerings and reposition the Company as a one-stop shop for customers,” said James Hughes, CEO of Altor. “We are proud of Foam Fabricators’ roots dating back to 1957, and we look forward to building on its legacy as part of a larger, diversified platform. Altor will leverage a wide range of materials from traditional plastics to organic and plant-based options, and our packaging, insulation and componentry can be applied to multiple end-markets. As we continue to scale and expand our geographic reach, we will further establish Altor as the leading packaging solutions provider for customers across North America.”

“Demand for protective and thermal packaging has increased dramatically, and Foam Fabricators has proven to be a true partner in solving customers’ most complex challenges by creating superior products and delivering speed to market,” said Elias Sabo, CEO of Compass Diversified. “The team has expanded its offering and footprint to meet today’s needs, and this rebranding is a testament to the success of their hard work. We look forward to supporting Altor as it builds on this strong foundation."

About Altor Solutions
Headquartered in Scottsdale, AZ, Altor Solutions is a dynamic, engineering-driven company whose goal is to design and produce superior products that help customers solve their needs for Packaging, Insulation and Componentry (PIC). The company offers a wide range of materials from traditional plastics to organic and plant-based options. Founded in 1957, the company operates 17 state-of-the-art facilities across North America specializing in the production and assembly of key components utilized in protective packaging, OEM componentry and temperature-controlled containers. For more information, please visit www.altorsolutions.com.

About Compass Diversified (“CODI”)
CODI owns and manages a diverse set of highly defensible North American middle market businesses. Each of its current subsidiaries is a leader in its niche market. For more information, visit compassdiversified.com.

Leveraging its permanent capital base, long-term disciplined approach and actionable expertise, CODI maintains controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability.

Our ten majority-owned subsidiaries are engaged in the following lines of business:

• The design and marketing of purpose-built technical apparel and gear serving a wide range of global customers (5.11);
  
  
• The manufacture of quick-turn, small-run and production rigid printed circuit boards (Advanced Circuits);
  
  
• The design and manufacture of custom packaging, insulation and componentry (Altor Solutions);
  
  
• The manufacture of engineered magnetic solutions for a wide range of specialty applications and end-markets (Arnold Magnetic Technologies);
  
  
• The design and marketing of dial-based fit systems that deliver performance fit across footwear, headwear and medical bracing products (BOA Technology);
  
  
• The design and marketing of wearable baby carriers, strollers and related products (Ergobaby);
  
  
• The design and manufacture of premium home and gun safes (Liberty Safe);
  
  
• The design and manufacture of baseball and softball equipment and apparel (Marucci Sports);
  
  
• The manufacture and marketing of portable food warming systems used in the foodservice industry, creative indoor and outdoor lighting, and home fragrance solutions for the consumer markets (Sterno); and
  
  
• The design, manufacture and marketing of airguns, archery products, optics and related accessories (Velocity Outdoor).
  

Media Contact

Jonathan Keehner / Kate Thompson / Julia Sottosanti
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Source: Altor Solutions and Compass Diversified Holdings

FAQ

What does the rebranding of Foam Fabricators to Altor Solutions mean for investors?

The rebranding signifies a strategic shift towards becoming a full-service provider in Packaging, Insulation, and Componentry, potentially enhancing market competitiveness.

How has Compass Diversified (CODI) supported Foam Fabricators?

Compass Diversified acquired Foam Fabricators in 2018, providing capital and operational support to expand its product offerings and market reach.

What industries does Altor Solutions cater to?

Altor Solutions serves multiple end-markets including protective packaging, OEM componentry, and temperature-controlled containers.

When was Foam Fabricators founded?

Foam Fabricators was founded in 1957 and has transitioned into Altor Solutions as part of its growth strategy.

How many facilities does Altor Solutions operate?

Altor Solutions operates 17 state-of-the-art facilities across North America.