Ohio, US – Linden Polyurethane has said its recent acquisition by machinery-maker Saip, part of Milan-based Pozzi Industries, could enable it to expand its product offerings and bolster local operations in Akron, Ohio. The Italian company began targeting a US expansion in 2022.
Linden’s foaming equipment has broad-based applications, from consumer products companies that produce foam for things like Igloo coolers to shipbuilders making ships for the Navy, which have polyurethane foam lining their steel hulls, according to Linden CEO Jon Cocco, who is retaining a minority stake in the company. “The US Navy uses our equipment to help make the hull of aircraft carriers,” he said.
Saip specialises in rigid foam insulation panels, with equipment being manufactured in Italy and shipped to international customers, including the US. Linden will support that business with its equipment service capabilities, but it might also make sense to make some of the equipment here, Cocco said.
If that happens, it could require a substantial expansion of Linden’s operations in Akron’s 200-acre Ascot Business Park, where the company owns more land than it currently uses and has room to double its existing space.
“We have our main and only facility here in Akron. We have a 30,000ft2 (2800m2) building here and 25 employees,” Cocco said. “One of my [business] neighbours walked over the other day and asked, ‘Would you ever want to sell some of your land?,’ and I said, ‘No.’”
If Linden were to start producing Saip equipment for construction panel manufacturers here, it would take up quite a bit of space, as the lines can be 100-200m long. While there is no decision to do this, he said it is a possibility.
“Sometimes it makes sense to manufacture here,” he said. “It’s not a decision we’ve made, but it’s one of the areas of flexibility that we have. We have enough room to double our space here if we decide to make that decision.”
Another option now open to Cocco is acquisitions, something he said he has experience with. He previously helped Goodyear sell its engineered-products operations to Carlyle Group when he worked there, bought Linden in 2019, and purchased Feedall, an industrial automation business similar in size to Linden that Cocco moved from Rochester to 30,000ft2 of new space in Willoughby, north-east of Cleveland, in December.
The terms of SAIP’s acquisition were not disclosed, but Cocco said it has provided more capital, enabling him to consider future acquisitions. For now, though, Linden will focus on growing its existing business and learning more about the Saip products it will support in the US.
Saip CEO Walter Pozzi said in announcing that deal late last year that he expects Linden to provide growth and a source of service closer to the company’s US customers. “The investment will enhance customer service and accelerate the development of both companies, creating new opportunities for growth and innovation,” he said.
