A $2.65 million asset deal more than triples the specialty ink developer’s revenue base while bringing fresh private placement capital from a new executive hire and a Horizon Kinetics affiliate.

May 25, 2026

Nocopi Technologies, a King of Prussia, Pennsylvania-based developer of specialty reactive inks, announced on May 21 that it has acquired substantially all the assets of Polymeric US, Inc., a Kansas City, Missouri-based maker of specialty inks and customized coatings. The $2.65 million transaction significantly expands the company’s North American footprint and is expected to be accretive to earnings within the year.

Deal Terms

The purchase price was structured across three components:

• $1.75 million in cash paid at closing
• $750,000 in equity, satisfied through the issuance of 500,000 shares at $1.50 per share
• $150,000 reserved as a customary holdback

The acquisition more than triples Nocopi’s revenue base. Polymeric generated over $5 million in revenue during the trailing twelve months ended March 31, 2026, with historically attractive pre-tax operating margins.

A Three-Decade Specialty Coatings Operation

Founded in 1993 by chemists and colorists, Polymeric brings more than 30 years of formulation expertise to Nocopi, along with a notably diversified customer base. Its top five customers account for less than 25 percent of total revenue, and its top ten customer relationships average more than five years in tenure.

The business will continue operating under the Polymeric brand from its 25,000-square-foot facility, where a team of nearly 20 professionals is led by Dr. Deverakonda Sarma, a veteran with over three decades of formulation and management experience. The deal provides Nocopi with additional Midwest production capacity and creates opportunities for shared research, development resources, and best practices across the combined organization.

New Operations Leadership

Alongside the transaction, Nocopi appointed Gregory S. Babe as Executive Director of Operations to oversee the combined organization. Babe brings more than 40 years of leadership experience in global industrial conglomerates, including stints as:

• Chief Executive Officer of Bayer Corporation, where he led the company’s North American activities
• Chief Technology Officer at NASDAQ-listed Matthews International, where he managed large-scale organizational integrations during high-growth phases

His background in material sciences and disciplined approach to scaling operations without sacrificing margin are expected to play a central role in integrating Polymeric and driving long-term efficiencies.

Private Placement

To further align his interests with shareholders, Babe agreed to purchase 133,334 shares of Nocopi common stock through a private placement at $1.50 per share. An affiliate of Horizon Kinetics also agreed to acquire 133,334 shares on the same terms.

Looking Ahead

Chief Executive Officer Matthew Winger said the combination of teams, technologies, and customer relationships positions Nocopi as a meaningfully stronger business, with a continued focus on growing per-share value. Management indicated it would keep evaluating both transformational acquisitions outside the company’s current operations and complementary additions within specialty materials, targeting opportunities that expand customer relationships and reinforce long-term competitive positioning.