PolyCon Inc. of Madison has been purchased by Englewood, Colo.-based Interstate Highway Construction Inc., a leading builder of interstate highways, roadways and airports.
The IHC deal gives PolyCon a chance to gain a larger presence in the marketplace and, with IHC’s large industry presence and reputation, a wider audience.
“They are one the most highly respected concrete finishers in the country. They are owned by Ralph Wilson, one of the original NFL franchise owners. He has tremendous holdings in many areas,” said PolyCon founder, Jack Wilson Sr. “They’ve got deep pockets and are highly respected in the marketplace.”
Under the purchase, Wilson has a five-year agreement to serve as a consultant for John Edwards, president of the newly formed PolyCon Systems Inc., and also vice president of business development for IHC.
Citing possible changes as the business venture unfolds, the current plan calls for an eastern and western division, with Madison remaining the manufacturing site and one of two distribution facilities. Products including a polymer-modified cement, E-Krete, and a pavement marking product, Perma-Stripe, will also be distributed from Denver.
“I guess the big picture is that we’re excited about it. We think there’s some good market demand out there for it. We’re in the process of finding out how much demand there is for it, and pursuing it,” Edwards said.
Wilson said they have projects in the works for businesses in Greenland, the Bahamas, Ascension Island and other locales.
Being purchased by IHC “has really expanded the opportunity tremendously,” Wilson said.
“We needed the financial wherewithal, and we needed doors opened. IHC is one of the foremost builders of airport runways in the world. We’re a small Mississippi group,” Wilson said.
PolyCon has used its products across the state, including to overlay several of the state’s bridge decks ﾗ the road surface of bridges ﾗ to repair and preserve them.
In situations in which it could be used, it worked well, said Harry Lee James, deputy director and acting chief engineer for the Mississippi Department of Transportation.
“It does have some appropriate applications with what we do. With those applications, it performed well,” James said.
Wilson started PolyCon in late 1996 and incorporated the company a year later, with the idea of being able to create a concrete repair technology.
After an intense period of speaking with possible buyers and weeding out those who did not bring to discussions the vision desired, Wilson, laughing, said, “the PolyCon concept has arrived.”
An added bonus for Wilson and his wife Marianne of selling to IHC ﾗ and its NFL ties via ownership by Ralph Wilson Jr. ﾗ is a trip this week to the Super Bowl in San Diego.
“We’re fortunate,” he said of the sale. “The timing was just perfect for us.”
By Arnold Lindsay, The Clarion Ledger
