01. Jul 2022
Eco Safety, (Phoenix, AZ, USA) announces it has acquired Soy Technologies, a Lexington (KY, USA) based specialty chemical manufacturer. The acquisition includes all remaining brands and intellectual property of the company.
The purchased operations and existing products will be manufactured at the ESP facility in Phoenix, Arizona and/or with the current toll blending partner to meet national high output retail chain requirements.
The transfer of orders, operations, packaging, and raw material inventory has begun and production to fulfil customer orders is expected to commence by the middle of July.
“This is an extremely desirable strategic fit with our growing biobased chemical technologies used to make non-toxic, eco-friendly paints, stains, sealers, coatings, and cleaning chemicals. With the emerging demand for all industries to adopt safer chemistry, this acquisition allows us to produce biobased intermediates that can be added to various chemical formulations to improve their ecological profile and performance”.
"By combining chemistry know-how between our company's, it will lead to improved performance and safety profile on paint stripper, cleaners, and coating formulations. Additionally, the Soy Technologies customer base is a perfect synergistic opportunity for ESP growth in the industrial and retail sector. We are looking forward to serving those customers as we partner together in order to meet customer objectives. Our biobased expertise will lead to significant R&D advancements making products better and safer”. It is an exciting acquisition, says John Bennett, Founder/CEO at ESP.
Bennett said the acquired operations includes the biobased methylene chloride free SoyGreen brand, which is a paint, adhesive, coatings stripper line. The Soyanol brand, is a biobased coatings and chemical intermediate line. SoyThin, is a biobased non-flammable paint thinner brand. Bennett is anticipating growing opportunities in helping other product manufacturers add biobased chemical intermediate innovations into their formulas which will fuel sustainability goals of ensuring human and environmental welfare to the mainstream industry.
“We have worked closely with ESP for over a decade now”, says Randy Frees, President of Soy Technologies, LLC. “We are extremely excited for the environmentally friendly chemistry we created almost 20 years ago to expand and be improved by ESP so our loyal customers continue receiving the products they have come to enjoy”.
Eco Safety Products was founded in 2004, making it a bio-renewable coatings and chemicals pioneer dedicated to utilizing safe plant-based performance equivalents to toxic petrochemicals. The company manufactures a wide range of green building compliant paints, stains, sealers, coatings, and specialty chemicals engineered to achieve its sustainable ethos for people, pets, and the planet.