Press release submitted on behalf of Aurora Material Solutions.
The platform expands and strengthens Aurora’s Sustainable Product Solutions offering to customers, while building on a continued commitment to be our customers first choice.
Aurora Material Solutions (Aurora), a leading manufacturer of polymer compounds, is
thrilled to announce the successful acquisition of Lastique International Corporation (Lastique), a strategic move that marks a significant milestone in enhancing the company’s sustainable solutions for its customers.
This acquisition marks the seventh transaction by Aurora since 2017. Lastique will be part of Aurora’s Sustainable Product Solutions platform. Aurora will now employ close to 500 people across nine sites throughout North America.
Strategic Fit and Synergies: The acquisition of Lastique International brings significant commercial synergies. As one of North America’s largest recyclers of rigid PVC, Lastique enables Aurora to offer both “closed loop” and “open loop” solutions to existing and new customers. These synergies include bundled offerings of virgin and recycled compounds, as well as the ability to buy and source customers’ scrap and sell compounds with or without recycled content.
Sustainability and ESG Focus: This acquisition further strengthens Aurora’s commitment to ESG (Environmental, Social, and Governance) initiatives and reduces our carbon footprint, solidifying our position as +Vantage Vinyl™ Gold certified. We are now able to offer recycled solutions as well as blended or sweetened compounds.
Operating Model: Lastique will operate as a standalone business segment within Aurora under the umbrella of “Sustainable Product Solutions.” All key management at Lastique, including Bob Manouchehri (President), and Bruce Manouchehri (VP of PVC Procurement & Sales) will continue with the business and are excited about future growth opportunities with Aurora.
“The Lastique acquisition creates an even stronger combined company with increased opportunities for our employees while providing additional service and product offerings for our customers. We welcome Lastique to the Aurora family and look forward to growing together,” says Darrell Hughes, CEO of Aurora Material Solutions.
Established in 1983 by Bob Manouchehri, Lastique has become a leading supplier and recycler of a wide variety of prime, generic-prime, wide-spec, reground, pulverized, and reprocessed grades of thermoplastic resins and compounds. Lastique specializes in rigid PVC, polypropylene, and polyethylene.
“Aurora and Lastique have closely aligned company cultures, with a strong commitment to customers and employees,” says Lastique founder Bob Manouchehri. “Aurora’s track record of accomplishments will ensure ongoing success with sustainable product innovation, strong customer service, and leading product quality.”
Aurora Material Solutions’ equity sponsor, Nautic Partners, has a proven model for value creation and growth. Nautic is excited to provide resources and capital to accelerate the growth of Aurora Material Solutions’ Sustainable Product Solutions and other businesses.
For more information, visit auroramaterialsolutions.com.
