The father-daughter team of Sunil and Monica Kumar has acquired Nylon Corporation of America (NYCOA), pledging to serve as on-site managers and to grow the Manchester company.
“We like the entrepreneurial culture of the NYCOA team, and we want to fully harness that capability to expand and grow the company,” said Sunil Kumar. “My daughter and I have been looking for the right specialty chemicals company to acquire and build, and found NYCOA to have a unique product line and great reputation within the industry. We think there is a great opportunity for us to grow the company going forward.”
Entrepreneurship and growth are nothing new to Kumar, who is the past president and CEO of International Specialty Products (ISP) and of GAF Materials Corporation and has had senior executive roles with Bridgestone/Firestone. NYCOA has gross annual sales of approximately $40 million and produces specialty grades of Nylon, Engineered Thermoplastic Resins and compounds. NYCOA has both continuous polymerization as well as batch reaction capability and extrusion lines for compounded products. Terms of the sale were not made public.
The new owners will retain the existing senior management team who together with Monica Kumar, will execute the new growth vision. “I am really excited to make the move to Manchester and to begin working with this leadership team,” she said. “We have ambitious goals, and I am confident that together we will accomplish them.” Monica is a graduate of Columbia University in Operations Research and has an MBA from University of Chicago Booth School of Business. She has worked in a variety of roles at Citigroup, AIG and most recently at PepsiCo.
Gregory Biederman, president and CEO, says the Kumars are the ideal owners for NYCOA, having both the manufacturing experience and financial wherewithal to grow the business over the long term. “We are excited about the new growth strategy planned for implementation over the next 5 years,” said Biederman. “We are going to supercharge our efforts to grow by helping our customers grow.”
To learn more about NYCOA, visit www.NYCOA.net.
Current Issue - May 2024