Jadex Inc. has entered into a definitive agreement to sell Lifoam Industries, LLC to Altor Solutions, a subsidiary of Compass Diversified (CODI), for $137 million in cash. Lifoam is a manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for healthcare, commercial and retail customers.
Jadex is a U.S.-based manufacturing and material sciences company. Jadex expects post-tax net proceeds from the sale to be used to pay down debt and fund investment in the remaining business.
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