Compound company Dimex's acquisition of products in exchange for Westlake began growth with courtyard products.

Houston-based Westlake Chemical Corp. will acquire the parent company of Dimex LLC, a Marietta, Ohio-based manufacturer of recycled compounds and products with approximately $100 million in annual sales.

Established in 1991, Dimex manufactures consumer goods including landscape trims, marine dock trims, controls and construction pads for industrial, home and office uses.

In 2000, Dimex also established a division specializing in the production of recycled flexible PVC, thermoplastic elastomers and polyethylene compounds used in the manufacture of its products and sold to other companies to meet the green initiatives.

According to Robert Buesinger, Westlake's vice president of vinyl products, Dimex has become one of the largest U.S. processors of recycled plastic materials.

"Westlake's pending acquisition of Dimex underscores the company's longstanding commitment to stewardship of the environment and recycling, and to taking actions that contribute to a sustainable, circular economy," Buesinger said in a news release.

Westlake is a $7.5 billion company that manufactures petrochemicals, polymers and building products, such as vinyl siding, windows, doors, fencing, decks, railing and corrugated pipe.

With $1.4 billion in extrusion sales, Westlake is the fourth largest North American pipe, profile and tubing producer, according to Plastics News' latest ranking.

Dimex's use of its compounds in its own products made it attractive, Buesinger said.

"[The] company is uniquely positioned to understand its customers' needs and to provide the engineering, manufacturing, and distribution capabilities to meet those needs quickly and effectively. We look forward to welcoming Dimex and its approximately 300 employees to the Westlake family of companies ," Buesinger said.

Westlake is buying Dimex from private equity firm Gray Mountain Partners, which has owned it since 2013.

Since 2017, Dimex has secured 29 U.S. patents for its products, the release says. The company's list of product introductions includes No-Dig brand landscape edging, MotionTex brand fitness equipment mats, and GrillTex brand protective deck and patio mats.

The proposed transaction is expected to close during the second half of 2021.

Westlake has been in buying mode this summer. The company announced June 21 it is acquiring the North American building products business of Boral Industries Inc. for $2.15 billion. The unit of Australian construction giant Boral Ltd. produces roofing; siding, trim, shutters, decorative stone and windows with about 4,600 employees at 29 sites in the U.S. and Mexico.

Westlake officials said the Boral acquisition creates a stronger business with significant increased scale, complementary product offerings and enhanced growth prospects.

Then, on July 6, Westlake announced a deal with Lasco Fittings Inc. to grow its portfolio of pipe and fitting products with injection molded PVC fittings.

Westlake President and CEO Albert Chao said this is an exciting time for Westlake ahead of an Aug. 3 earnings calls. The company achieves quarterly record earnings as it continues to benefit from the global economic recovery and higher sales prices and margins.

Quarterly sales reached $2.9 billion with a record profit of $522 million for the three months ended June 30.

The Boral and Lasco acquisitions totaled about $2.4 billion and set another stage of development and growth for Westlake, Chao said in a news release about the latest financial results.

"We believe in the growing secular strength of the housing, repair and remodeling markets, and these strategic acquisitions will provide new and complementary platforms and long-term growth opportunities for Westlake," Chao said. "Through these acquisitions, we can deliver greater value and convenience to our customers which will create value uplift to our shareholders."