SOURCE: Western Emulsions

Western Emulsions

October 19, 2009 17:33 ET

Western Emulsions Awarded Second U.S. Patent for Technological Innovation

DANA POINT, CA--(Marketwire - October 19, 2009) - The U.S. Patent and Trademark Office (USPTO) has awarded Western Emulsions Inc. a new U.S. Patent for its PASS® emulsion formula. U.S. Patent #7,357,594 recognizes a unique and innovative method developed by Western Emulsions for treating aged and cracked asphalt, and extending road service life through maintenance, repair and restoration.

Technological innovation has represented a cornerstone for Western Emulsions since the company's start in the 1970s. Western Emulsions was previously awarded U.S. Patent #5,180,428 for its flagship product PASS®, originally an acronym and now a registered trademark for its Polymer-modified Asphalt Surface Sealer.

According to Robert Koleas, President and CEO, the new U.S. patent maintains and broadens protection of Western Emulsions' intellectual property and technology. The award also reflects the company's further innovations in combining rejuvenating agents and specific polymers together in its products.

"Our company has taken the lead for nearly three decades to engineer emulsions solutions that truly rejuvenate the existing or old asphalt as well as protect roads from damaging moisture intrusion," Koleas said. "The success or failure of public agencies' entire maintenance programs depend upon having effective, affordable preservation tools -- we are pleased that the USPTO has acknowledged our contribution to the road maintenance industry."

With age and environment exposure, asphalt will oxidize, become brittle and lose its ability to hold the small rocks on a paved roadway surface, while contraction and expansion of pavement due to cold and hot temperatures will result in surface cracking. As an alternative to the wasteful removal of existing asphalt and re-paving, Western Emulsions' PASS® product is surface-applied to fill and seal cracks, and contains a rejuvenating agent to restore the composition of the asphalt and extend its service life.

About Western Emulsions

Western Emulsions (www.westernemulsions.com), based in Tucson, AZ with additional operations in CA, NM and MT, is a leading innovator and supplier of specialty patented and standard asphalt emulsions and raw asphalt used for pavement preservation, repair and restoration projects. Customers include: (i) federal agencies, such as those for roads, highways and airports; (ii) state and local agencies, such as county and municipal public works departments; (iii) private entities, such as independent businesses; and (iv) intermodal consultation groups, such as government agencies who manage the highway infrastructure. The Company was recapitalized by Marwit Capital in June 2008, in partnership with the Company's senior management team, providing growth capital and management expertise to drive an expansion strategy.

About Marwit Capital

Marwit (www.marwit.com) is one of the oldest and most experienced private equity firms in the Western U.S. Founded in 1962 and based in Southern California, Marwit invests in lower middle market businesses that are leaders in niche markets. Employing a collaborative operational focus, Marwit targets investments headquartered in the Western U.S. with revenues of $20-200 million, EBITDA of $4-20 million, and enterprise value up to $100 million, at the time of acquisition. Marwit partners with experienced CEOs and management teams to complete buyouts and provide growth capital for expansion investments. Marwit generally invests $10-30 million of equity capital per platform investment, in one or a series of investments, and has invested more than $250 million since 1995. Marwit is currently investing out of Marwit Capital Partners II, a $183.7 million fund.

Contact Information

  • Contact:
    Phil Vandermost
    (949) 248-8020