PolyOne (POL), a provider of specialized polymer materials, said on Wednesday it has acquired Fiber-Line, a customized engineered fibers and composite materials company, for $120 million.
Founded in 1987, Fiber-Line has five manufacturing locations in North America, Europe and Asia, and provides material science and polymer formulation expertise to engineer specified performance characteristics for fiber.
“Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions with tremendous upside for growth,” said CEO Robert Patterson. “They provide an immediate leadership position in serving the build out of fiber optic cable and future 5G networks.”
“This acquisition represents a significant investment for our Specialty Engineered Materials segment. We expect it to add nearly $100 million in revenue in 2019 and be immediately accretive to EPS.”