Milliken & Company has acquired Encapsys LLC, a specialist in microencapsulation, from the Cypress Performance Group.
Microencapsulation technologies put a uniform polymeric shell around a core material at the micron level to create capsules. The technology is used in bedding, textiles, laundry products, personal care products, air-care, nutraceuticals, fertilizers, crop protection and drug delivery. Microencapsulation applications offer long-lasting freshness, controlled release and a cooling sensation in clothes and bedding.
“Moving the needle on sustainability requires big thinking and powerful collaborations,” said Halsey Cook, president and CEO of Milliken & Company. “Encapsys’s expertise coupled with our ability to scale will propel our efforts to deliver sustainable innovations for our customers.”
As Encapsys integrates into Milliken, daily operations will continue without interruption, including relationships with existing suppliers and customers, the company said. Terms of the acquisition were not disclosed.
“Encapsys brings a unique combination of innovation, science and technology to the Milliken team,” said Cindy Boiter, executive vice president and president of Milliken’s Chemical Business. “Enhancing our portfolio of specialty chemicals with global reach, this acquisition will accelerate sustainable solutions for the markets and customers we serve.”
Headquartered in Appleton, Wis., Encapsys is a leader in microencapsulation technologies, which put a uniform polymeric shell around a core material at the micron level to create capsules. Microencapsulation helps companies achieve more sustainable products by advancing responsible consumption and efficient delivery of active materials.
“Encapsys associates are excited to become a member of the Milliken team and welcome a world-class organization to northeast Wisconsin,” Mary Goggans, president of Encapsys, said. “Our culture and values are a perfect fit, and we look forward to leveraging Milliken’s global capabilities to accelerate innovation and growth.”
Milliken was represented by legal advisor Jones Day and financial advisor J.P. Morgan Securities LLC in the deal. BofA Securities and Credit Suisse Securities (USA) acted as financial advisors, and Morgan, Lewis & Bockius LLP acted as legal advisor to Encapsys.
Headquartered in Spartanburg, S.C., Milliken is a global manufacturer with a focus on materials science. The company draws on thousands of patents and a portfolio with applications across the textile, flooring, specialty chemical and healthcare businesses.