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Investor acquires Elemix, Syntheon businesses

Sources: Syntheon Inc., Pittsburgh; CP staff

Headwaters AG, LLC, a private equity firm not related to the fly ash marketer of the same name, has closed on a deal for Syntheon Inc. The transaction with Nova Chemicals includes the namesake’s Elemix lightweight concrete aggregate brand, plus a companion domestic wall system business, Accel-E, and Syntheon Chile.

“Fundamental forces are transforming the construction industry from being mainly a field‐erected industry to [one] characterized by highly engineered and energy‐efficient materials, components, assemblies and systems manufactured for high performance,” says Headwaters AG President Christian Echavarria.

“The acquisition gives us a strong global presence and foundation to build a premier enterprise,” adds Syntheon CEO Ricardo Wiener Strauss, who has transitioned from his Nova Chemicals Chile general manager post. “Our focus for Syntheon will be to create an innovative family of products to provide a High‐Performing Branded Green Envelope to the building and construction industry and expand other business lines that leverage the manufacturing assets of the company.”

Joining him on the Syntheon executive team is Peter Humphrey, P.E., president of the North American business, transitioning from his role as director of Design and Engineering. Domestically, Syntheon promotes the Elemix engineered polymeric spheres—or lightweight synthetic particles—that disperse uniformly throughout a concrete mix to replace a significant volume and weight of both normal and lightweight aggregate, while ensuring uniform strength for use in a variety of structural and nonstructural concrete applications as well as controlled low strength fill and grouting applications.

The Accel-E Steel Thermal Efficient Panel wall system combines cold-formed steel framing members with expanded polystyrene panels, netting a wall system promoted for its lightweight and energy efficient properties, plus construction labor saving potential. Syntheon Chile specializes in insulating concrete forms; insulated deck forms or roofing panels; curtain wall or interior partition panels; plus rigid insulation board and structural insulated panels.