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Polyguard Ownership Acquires DeNOVUS

Polyguard Products, Inc., of Ennis, TX, has announced that its ownership group has acquired the assets of DeNOVUS LLC from Orscheln Industries, of Moberly, MO. Terms of the acquisition were undisclosed.

DeNOVUS LLC consists of several technology based startups which sell anticorrosion and sealant products primarily to marine, oilfield, pipeline, highway, and industrial insulation markets.

Polyguard Products has been the exclusive distributor for several years of DeNOVUS’ largest selling anti-corrosion product, a gel-like material called RG2400™ which has been nicknamed by Big Oil users as "Blue Goo"™. The environmentally benign Blue Goo™ products are gaining rapid acceptance for corrosion problems such as corrosion under insulation (CUI), downhole drill casings, naval shipboard, bridge structures, and a variety of other industrial applications.

A large amount of intellectual property comes with the acquisition. Blue Goo LLC of Texas, the company formed for this acquisition, has obtained ownership or royalty-free licenses on 95 patents, domestic and worldwide. These patents relate not only to the gel technology, but also to Fusion Bond Epoxies, high temperature resistant corrosion coatings, and high strength corrosion coatings. Also importantly, several key inventors on the 95 patents will continue to work for the company at its laboratory in Excelsior Springs, MO.

In commenting on the sale of DeNOVUS, Bob Orscheln, Vice President of Orscheln Industries, said; “This deal allows Orscheln to focus on its core controls business (Orscheln Products) and further development of the corrosion resistant line of products (Elisha). Polyguard now has new products which fit nicely with its existing businesses. This transaction is a winner for both organizations”.

John Muncaster, President of Polyguard, said, “The people who come with this organization have been our friends for years, and the technologies they bring are unique and have high potential in several markets. To say we are excited is an understatement.”

For further information, see the Polyguard website www.polyguardproducts.com or call Shawn Eastham at (011) 214.789.5725 or John Muncaster at (011) 214.515.5000.

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