AURORA, Illinois —Tangent Technologies has completed its acquisition of Bedford Technology, according to a press release issued Tuesday. The release noted the purchase took place at the end of February.
Headquartered in Aurora, Tangent is a leading manufacturer of high-density polyethylene (HDPE) lumber used for outdoor furniture, site amenities, structural applications and marine decking. Bedford Technology, located in Worthington, is a leading plastic lumber extruder in North America with excellence in structural and semi-structural product lines, primarily used in marine infrastructure projects, boardwalks and fencing, as well as a broad range of industrial applications.
Tuesday's press release explained that in recent years, HDPE lumber has become a leading substitute for traditional building materials in outdoor furniture and other applications, given its durability and aesthetics. Tangent and Bedford Technology both use post- consumer recycled milk bottles as a primary raw material along with many other post-industrial recycled waste streams. Combining Tangent and Bedford Technology creates a leading alternative materials innovation team and expands both business’ plastic lumber product lines., the press release added.
“We are excited to partner with Bedford and expand the combined plastic lumber product lines and solutions,” said Guy DeFeo, CEO of Tangent. “With the addition of Bedford, we will build a broader facility footprint across North America as well as build one of the best alternative material innovation organizations for our customers.”
“We are looking forward to increasing sustainable manufacturing capabilities and expanding our innovation capabilities through this partnership with Tangent,” said Jeff Breitzman, CEO and President of Bedford Technology.
“The talent and skills that both organizations are bringing to the table will enhance how the combined company serves its customers and will fuel many new growth opportunities,” said Brian Larsen, founder of Bedford Technology and former CEO.
Larsen added in a telephone call to The Globe on Tuesday that Bedford Technology will be keeping its molded plastic lumber production in Worthington, though there will be an eventual reduction based on the synergies between the companies. A timeline and quantity for the reduction is currently unknown, he added.