Injection and rotational moulding specialist Promens (Reykjavik / Iceland; www.promens.com) has sold its rotational moulding assets in the US to a portfolio company of Olympus Partners, a Stamford, Connecticut-based private equity firm. The transaction includes six operations located in Elkhart, Middlebury and South Bend, all in Indiana; West Chicago, Illinois; Littleton, Colorado and Ridgefield, Washington. Promens said it will retain its St. John, New Brunswick / Canada business and retain its position as a leader in the insulated tub market.

The company said that the sale of the of the US assets is a part of a strategic move towards an increased group focus on the larger and more dominant European part of the business, except some niche markets where a global presence will be continued. Following the sale of its US businesses, Promens operates 49 factories in 20 countries.

Rotational molding companies in the US have been part of Olympus’ acquisitive trail in recent years, including Snyder Industries (Lincoln, Nebraska, USA; www.snydernet.com) in July 2008 and Norwesco (St. Bonifacius, Minnesota, USA; www.norwesco.com) in September 2008. In August 2010 Olympus also announced the acquisition of the tank division of Rotonics Manufacturing (Commerce City, Connecticut / USA; www.rotonics.com).