Greenfield’s Argotec buys Easthampton co.
GREENFIELD — A local plastic film manufacturer has bought a similar Easthampton company to increase capacity and meet its growing demands.
“Business is booming,” said Robert Nicoll, spokesman for Argotec LLC.
The company, which runs a factory in Greenfield’s industrial park, announced the purchase of Stevens Urethane on May 1.
The jobs of Argotec’s 150 workers and Stevens’ 80 employees will stay put, and the company plans to keep both factories running, said Nicoll.
“One of the challenges Argotec has had over the years is finding people,” Nicoll said.
The acquisition will allow Argotec to increase its output and the types of products it makes.
“The two companies are an ideal fit,” said Argotec CEO Guy Broadbent in a press release.
Argotec’s Greenfield factory makes a “crystal clear” urethane film that’s used as an adhesive between panes of bullet-proof glass, as smartphone screen protectors, and, more recently, graphic films that are used to add advertising or artwork to vehicles. Stevens makes a more general-purpose, industrial form of urethane film.
Nicoll said demand is enough to keep both factories running. Broadbent’s statement said Argotec’s ownership of Stevens will make more money available to expand the Easthampton plant to meet growing demand.
Argotec was founded in 1988, was sold last year to Chicago-based Wing Point Partners, a private equity firm. The company’s founders called it a “long-planned exit strategy,” which allowed them to retire.