Jadex Inc. has finalized an agreement to sell Lifoam Industries, LLC to Altor Solutions, a subsidiary of Compass Diversified (CODI), for $137 million in cash. Lifoam is known for producing temperature-controlled packaging products, including thermal shippers and refrigerant gel packs, catering to healthcare, commercial, and retail clients.
Jadex, a U.S.-based manufacturing and material sciences company, anticipates utilizing the post-tax net proceeds from the sale to reduce debt and invest further in its remaining operations.
