Cascadia Capital, a diversified boutique investment bank serving both private and public growth companies, has served as the exclusive financial advisor to Chelmsford, MA based FRX Polymers, Inc. (FRX or the Company) (www.frxpolymers.com) in its recent USD15.7 million growth equity financing.
FRX is a growth stage "green chemical" company that is commercialising a new non-halogen containing polymer technology that addresses an unmet market need in the USD15 billion flame retardant polymer industry. SAM Private Equity, with headquarters in Zurich, Switzerland, led the Series B round of financing. Joining SAM were the Company’s series A investors (Capricorn Venture Partners and Israel Cleantech Ventures), a syndicate of private investors from Western Canada, North Sky Capital (Minneapolis, MN) and FRX’s founders and employees.
"This round of financing enables FRX Polymers to build needed capacity to fulfil tremendous market demand in a multi-billion dollar industry that is eager for a ‘green’ solution," says Jamie Boyd, Managing Director at Cascadia Capital. "The global diversity of the investment syndicate, coupled with government and corporate partner support, will position FRX at the forefront of the FR Additive marketplace with an advanced green technology solution. This type of partnership is critical in driving innovation and growth for companies in sustainable industries around the world."
FRX is commercialising a novel family of non-halogen, flame retardant polymers and oligomers. These specialty green chemicals are in high demand across a massive global market due to policy initiatives and consumer desires to drive out halogen compounds in plastics, which can cause extreme harm to the environment and humans. Products such as televisions, computers, printers and cell phone internals, as well as a wide range of electronic devices and connectors, drive a bulk of the demand for flame retardant material.
Cascadia Capital has a longstanding track record for success in the sustainable sector and has been a key player in the industry’s most significant transactions. These transactions include the recent USD143 million growth equity financing of Plasco Energy Group, Prometheus Energy’s funding from Shell Technology Ventures, and many others. Having entered the sector early in its lifecycle, Cascadia has worked with institutional investors, growth-stage companies and project developers to facilitate strategic buy-side and sell-side M&A and drive strategic investments.
