RapidPurge sold to Private Equity Firm Led by Industry Veteran, Joseph Serell
Rapid Industries, Inc., a NJ based private equity firm, announced today that it has acquired the assets of Cross Western, LLC, the former owner of the RapidPurge brand.
The RapidPurge family of purging compounds was first introduced in North America in 1979. Due to their outstanding success, these products spawned what is now known as the Commercial Purging Compound (CPC) market. RapidPurge’s first products were chemical purge compounds that worked by depolymerization. In later years, RapidPurge developed economical mechanical purge compounds to complement its product line. To this day, RapidPurge is the only CPC that utilizes depolymerization technology.
“This transaction is an important milestone for RapidPurge.”, stated President and CEO, Joseph Serell. “In the past 10 years, the focus has been on manufacturing excellence. Our facilities are now state of the art. Moving forward, our focus will shift to new product development and marketing. We are in the final stages of development of two ground-breaking new products.”
“It is an exciting time for RapidPurge,” continues Serell. “Stay tuned!”
Joseph Serell is a 15-year veteran of the purging compound industry. He has authored a number of published articles on thermoplastic purging and is a frequent presenter at plastic’s industry functions. He will oversee all aspects of the RpaidPurge business. Joseph can be reached at firstname.lastname@example.org.
Rapid Industries, Inc. is a privately held NJ corporation. It is 100% American owned and all products are proudly made in the USA.
Polymer TransAction Advisors, Inc. served as the exclusive financial advisor to the transaction.