Geon Makes Play for Medical Market with Foster Corp. BuyGeon Makes Play for Medical Market with Foster Corp. Buy

Materials supplier Geon Performance Solutions announced today that it has acquired Foster Corp., a compounder of medical-grade polymers.

A portfolio company of SK Capital Partners, Geon said that the acquisition enhances its participation in the high-value medical market. It currently offers rigid and flexible PVC, thermoplastic elastomers (TPEs), and contract manufacturing services to healthcare customers.

Foster offers formulation, development, and production of custom medical compounds, implantable materials, engineered polymers, thermoplastic polyurethane elastomers, and polymer enhancements. Cleanroom manufacturing is available.

Headquartered in Westlake, OH, Geon operates 15 manufacturing plants including one in China. Its Clinton, TN, facility is certified to ISO 13485:2016 as is Foster Corp., which has its headquarters in Putnam, CT, and runs three plants in the United States and has supply partnerships in Europe and Southeast Asia.

This is Geon’s fourth acquisition since 2020 and its second in the last year. It acquired Polymax in December 2023, adding TPEs to its portfolio.

In November 2024, it launched a new TPE production line at its plant in Mexico to shorten lead times for automotive OEMs and consumer markets, the company said at the time.

“Geon is the ideal partner to leverage Foster’s strengths and augment its capabilities to better serve unique customer needs,” said Foster Corp. President and CEO Larry Acquarulo. “We are proud that Foster’s commitment to quality and innovation will live on with Geon.”

Foster Corp. will be its face to the medical end market, said Geon, including its existing volumes, and will leverage Geon’s development capabilities, salesforce, and capacity. 

Benesch, Friedlander, Coplan, & Aronoff LLP acted as legal counsel for Geon. NorthView Advisors LLC served as investment advisor to Geon. Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo P.C. served as legal counsel for Foster, and Covington Associates LLC served as the company’s investment advisor.