The spa and bath division of Lucite International, supplier of acrylic shells to hot tub manufacturers, has been acquired.
Columbus, Ohio-based Plaskolite has purchased the continuous cast acrylic sheet business of Lucite. The acquisition includes Lucite’s 93,374-square-foot manufacturing facility in Memphis, Tenn. which will continue to produce spa and bath products.
Officials say hot tub manufacturers should not experience any supply disruptions. Lucite’s leadership will remain in place.
“From the customers’ point of view, it should be business as usual,” said David Dennis, Plaskolite’s chief strategy officer.
Plaskolite is the largest privately owned acrylic sheet manufacturer in North America. Its products are used in a variety of applications, including doors, windows, lighting, signs and baths. This is its first major foray into the hot tub industry.
“We’ve been involved in small things in the past, but this is a new market,” Dennis said.
The two companies have a relationship spanning four decades, with Plaskolite being one of Lucite’s largest purchasers of acrylic monomers – a molecule that helps form polymers in the manufacturing process.
Lucite International, owned by Mitsubishi Chemical Corp., is perhaps best known in the industry for creating hot tub shells with naturalistic colors and patterns inspired by canyons, mountains and the night sky.
Officials expect to complete the transaction by the end of the first quarter.
