STONE MOUNTAIN, Ga., Sept. 23, 2020 /PRNewswire/ — WinCup®, a leading manufacturer of disposable foodservice to-go ware, has commercialized and is now shipping phade®, a new line of marine biodegradable straws and stirrers. Phade® products are made with Danimer Scientific’s Nodax™ PHA (polyhydroxyalkanoate), a naturally occurring material derived from canola oil. These products are also soil biodegradable, as well as home and industrial compostable. Unlike other eco-friendly straw options, phade® does not sacrifice performance and has the look and feel of traditional polypropylene straws.
“Phade® represents WinCup’s commitment to the environment and our customers. We are the first manufacturer in the U.S. to successfully develop commercially sellable straws from this unique material and straws are just the first step,” said Brad Laporte, WinCup’s Chief Executive Officer. “We will soon be announcing many other foodservice and consumer products using this groundbreaking new material that will expand and complement our existing product line.”
On August 21, 2020, the Bioplastics Division of the Plastics Industry Association (PLASTICS) announced WinCup and Danimer Scientific as the joint winners of the 2020 Innovation in Bioplastics Award for their development of phade®.
WinCup is actively shipping customer orders for phade® straws and stirrers throughout the United States. “Consumers’ reactions to this innovative new product have been extremely positive. Phade® has rescued them from the soggy straw experience,” said Michael Winters, WinCup’s President and Chief Revenue Officer. “If you are ready for a relevant sustainable straw option that does not sacrifice performance, then ask for the phade® blue straw.”
Danimer Scientific’s Nodax™ PHA has been certified by TUV AUSTRIA as marine biodegradable and soil biodegradable, home and industrial compostable, and is 100% bio-based.
About WinCup, Inc.WinCup, which is headquartered in Stone Mountain, Georgia, has recently been acquired by Atar Capital, a Los Angeles based global private equity investment firm. WinCup is a leading manufacturer of traditional and sustainable disposable cups, bowls, containers, lids, and straws. The company’s eight manufacturing locations are committed to high-quality products and superior customer service. To learn more, please visit www.wincup.com and www.phadeproducts.com.
SAND SPRINGS, Oklahoma—June 26,2017— FIS announced today that Keyth Pengal was appointed as CEO and added oil and gas industry veteran Bill Boyer to its Board of Directors. These appointments are effective immediately and further strengthen and position FIS as a North American leader in oil and gas pipeline inspection and integrity services.
“FIS has an over-40-year history of quality, trust, and honesty with its customers, employees, and communities it serves. Keyth will further strengthen these core values while bringing in his operating mettle, coupled with Bill’s 41 years of experience in oil and gas. This will be a great one-two punch to help accelerate the growth of FIS and better serve our customers, employees, and communities and be the premier choice of pipeline inspection services,” commented Cyrus Nikou, Chairman of FIS and Founder and Managing Partner of Atar Capital.
Pengal brings over 25 years of operating experience, most recently as a Managing Director of Atar’s operating group, where he will remain as a Senior Advisor. He helped lead the carve out of FIS from Team Inc. (TISI) and helped stabilize operations and strengthen relationships with the company’s key customers. Prior to supporting Atar Capital, Pengal held a number of executive positions/roles in operations, including Vice President of Operations at Goldline International, where he led technology and process improvements to help grow the company from $50 million to $850 million in 3 years. Keyth will report to the FIS Board.
Boyer is currently Senior Vice-President of Operations at Southcross Energy Partners L.P. (SXE). Boyer retired from Occidental Petroleum after an illustrious 39-year career where he was President of Occidental’s crude oil pipeline subsidiary, Centurion Pipeline, and General Manager of Occidental’s midstream operations business unit, which included the Centurion Pipeline operations and a new marine terminal at Ingleside, Texas.
“We are thrilled to welcome Bill to the FIS Board and to Atar Capital’s Senior Advisory Group,” added Nikou. “Bill is a ‘salt-of-the-earth,’ well-respected leader and operator in the oil and gas industry with significant pipeline inspection experience. We look forward to working with Bill and charting the next chapter of FIS.”
About FIS
FIS is a North American leader in oil and gas pipeline inspection and integrity services. Serving their customers since 1975, FIS serves as an independent, outsourced provider of inspection and integrity services for all disciplines of pipeline, pipeline stations, terminals, power plants, tank storage farms, and other energy related fields. FIS works with 3,100+ professionals to place qualified Inspectors who act as the Designated Operator Representative to supplement the pipeline operators’ management and employees in the construction and implementation of pipeline, power plant, and mechanical integrity projects. FIS is headquartered in Sand Springs, Oklahoma, serving customers in both the U.S. & Canada.
About Atar Capital
Atar Capital is a global private investment firm that benefits from over sixty years of combined buy-out, investing and asset management experience. The firm’s principals have collectively completed over sixty private equity transactions across eighteen countries worldwide.
Atar Capital invests in both performing and underperforming lower middle market businesses that exhibit potential for revitalization, operational performance improvement, and growth. The firm specializes in corporate divestitures, complex carve-outs, and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.
Headquartered in Los Angeles, and with offices in London, Atar Capital’s best-in-class business development, M&A and operations capabilities enable its portfolio companies to achieve their full potential. For more information, visit www.atarcapital.com.
Atar Contact
Vijay K Mony Managing Director vmony@atarcapital.com Phone: +1 310 882 5568