Management Buyout of Novatec, Inc.

A private group of investors led by two experienced executives in the plastics auxiliary equipment business has purchased Novatec, Inc., Baltimore.

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A private group of investors led by two experienced executives in the plastics auxiliary equipment business has purchased Novatec, Inc., Baltimore. One is Conrad M. Bessemer, previously head of Conair in the Americas and now president and CEO of Novatec. Another is Lawrence F. DeBaugh, who was president of Novatec and now is chairman. Longtime Novatec executive v.p. Jack Doub remains in that position. Bessemer told Plastics Technology that Novatec will maintain its material conveying and blending product lines but will focus primarily on dryers. At the NPE show this month, Novatec will broaden its range of drying technologies. It will introduce its first vacuum dryers, wheel-type desiccant dryers, and infrared crystallizer/dryers for PET. These supplement its existing lines of twin-tower desiccant units and compressed-air membrane dryers. Novatec also plans to outfit a full drying lab in which it will test the various dryers’ capabilities and energy consumption in order to be able to recommend the best dryer type for a particular job.