The purchased shares were part of the Composites One joint venture which was created in 1999 when GLS Composites Distribution Corporation and CCP Composites joined their composites materials distribution businesses in North America. This partnership gave Total/CCP a 51% share of the financial interest in Composites One, but voting control was equally shared between the two companies.

CCP Composites, comprising all the composites activities of the Total Group worldwide (including Cray Valley, Cook Composites and Polymers (CCP) and Composites One) was formed in July 2011. According to news reports, the sale will allow Total to focus on composites resins.

“Synergy 55 Corporation acted as the operating partner over the 13 years Composites One conducted business as a joint venture, so there will be no change in market strategy, operating management structure or philosophy,” says Steve Dehmlow, Synergy 55 Owner and CEO of Composites One.

Composites One, Arlington Heights, Illinois, USA, is a distributor of composite materials serving customers in more than 30 locations in North America.