NEW YORK, Oct. 2, 2024 /PRNewswire/ -- Jadex Inc. ("Jadex"), a manufacturer and material sciences company, today announced it has completed the previously announced sale of Lifoam Industries, LLC ("Lifoam" or the "Company") to Altor Solutions ("Altor"), a subsidiary of Compass Diversified (NYSE: CODI), for $137 million in cash (excluding working capital and certain other adjustments).

Lifoam is a leading manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for healthcare, commercial and retail customers. Over the past several years, Lifoam's focus on innovation, new product development and environmentally-friendly products has allowed it to grow its customer base in the healthcare- and food-related cold chain shipping end markets.

NEW YORK, Aug. 19, 2024 /PRNewswire/ -- Jadex Inc. ("Jadex"), a manufacturer and material sciences company, today announced it has entered into a definitive agreement to sell Lifoam Industries, LLC ("Lifoam" or the "Company") to Altor Solutions ("Altor"), a subsidiary of Compass Diversified (NYSE: CODI), for $137 million in cash. Post-tax net proceeds from the sale are expected to be used to pay down debt and fund investment in the remaining business.

Lifoam is a leading manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for healthcare, commercial and retail customers. Over the past several years, Lifoam has been growing with its customer base, particularly in the healthcare- and food-related cold chain shipping end markets. Innovation has been a key driver of its success as Lifoam has developed and commercialized environmentally-friendly products. One example is its Bioffex® technology, which is a polylactic acid (PLA)-based bead foam that can be commercially composted in under four weeks.