Nocopi Technologies, a developer of specialty reactive inks, has acquired substantially all the assets of Polymeric US, a Kansas City, Missouri-based manufacturer of specialty inks and customized coatings, in a deal valued at USD 2.65 million. The company said it expects the acquisition to be accretive to its earnings within the year.
The purchase price consisted of USD 1.75 million paid in cash at closing, USD 0.75 million paid in equity of the company, and the remaining USD 0.15 million reserved as a customary holdback. The equity portion was satisfied through the issuance of 500,000 shares at an agreed price of USD 1.50 per share.
Polymeric was founded in 1993 by chemists and colorists and has spent over three decades developing and manufacturing specialty inks and customized coatings. According to the Company, Polymeric brings a differentiated set of formulation technologies, new industry segments, and geographic diversity to Nocopi’s existing operations. Its customer relationships are said to be durable: its top five customers represent less than 25% of total revenue, and the top ten customers have an average relationship tenure of more than five years. The acquisition is also expected to provide additional production capacity to fulfil customer orders from a Midwest location, with management stating that shared research and development capabilities and other resources could help the Company better serve customers.
For the trailing twelve months ended 31 March 2026, Polymeric generated over USD 5 million in revenue with what the company described as historically attractive pre-tax operating income margins. Combined with Nocopi’s existing operations, the company said the acquisition more than triples its revenue base and establishes a multi-facility segment for continued growth. Polymeric will continue to operate under its existing brand out of its 25,000-square-foot facility, with a team of nearly 20 professionals led by Deverakonda Sarma, who has over three decades of formulation and leadership experience.
In conjunction with the acquisition, Nocopi Technologies has appointed Gregory Babe as executive director of operations to oversee the combined organization’s operating activities. Babe brings over 40 years of leadership experience within global industrial conglomerates, including his tenure as former chief executive officer of Bayer Corporation, where he oversaw the Bayer Group’s North American activities, and as chief technology officer of Matthews International, where he led large-scale organizational integrations during high-growth phases. The company said Babe’s expertise in material sciences and his ‘lean growth’ approach – scaling operations with discipline while preserving margin – would be central to integrating Polymeric’s infrastructure and driving efficiencies across the combined organization.
Babe has agreed to purchase 133,334 shares of Nocopi Technologies’ common stock in a private placement at USD 1.50 per share. An affiliate of Horizon Kinetics has also agreed to purchase 133,334 shares at the same price.
Company management said it continues to evaluate acquisition opportunities that are either more transformational and outside the Company’s current operations, or within the complementary specialty materials segment, targeting businesses with adjacent technologies that could add operational scale, expand customer relationships, and strengthen Nocopi’s long-term competitive position.
“We are very excited to complete the acquisition of Polymeric. With a rich legacy and strong 30-year operating history, we believe the combination of our teams, technologies, and customer relationships will make us a meaningfully stronger business. Our disciplined focus remains on growing per share value, and Polymeric fits that criteria precisely with its complementary formulation technologies, durable customer relationships, and real operating scale. We will continue to pursue future opportunities that are either transformational to the organization or immediately adjacent to our current operations, and that we believe can deliver the kind of compounding growth our shareholders expect,” said Matthew Winger, chief executive officer of Nocopi Technologies.
