MILLIKEN & COMPANY BUYS ENCAPSYS

KUALA LUMPUR, Oct 20 (Bernama) -- Milliken & Company (Milliken), a global diversified manufacturer with more than a century and a half of materials science expertise, has formally acquired Encapsys LLC (Encapsys), a world leader in microencapsulation, from the Cypress Performance Group LLC (Cypress). The transaction officially closed Oct 18.

“Moving the needle on sustainability requires big thinking and powerful collaborations. We’re thrilled to welcome Encapsys to Milliken,” said Halsey Cook, president and CEO for Milliken & Company in a statement.

“Encapsys’ 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.

Headquartered in Appleton, Wisconsin, Encapsys is a leader in microencapsulation technologies, which put a uniform polymeric shell around a core material at the micron level to create capsules.

“Encapsys associates are excited to become a member of the Milliken team and welcome a world-class organisation to Northeast Wisconsin,” said Encapsys president Mary Goggans.

“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 adviser Jones Day and financial adviser J.P. Morgan Securities LLC. BofA Securities Inc and Credit Suisse Securities (USA) LLC acted as financial advisers, and Morgan, Lewis & Bockius LLP acted as legal adviser to Encapsys.

-- BERNAMA