ORANGEBURG COUNTY, S.C. — The Orangeburg-based company Zeus has sold to a private equity firm called EQT, in a deal for $3 billion.
The polymer solutions provider has been in business since 1966 and was founded by Frank P. Tourville Sr. The manufacturer produces polymer-based products that include everything from pieces of catheters to heat-shrink release aids for aerospace-engineered technology.
Ethan Waxman a partner at EQT says his company only hopes to continue this success by expanding production and investing in the local area.
"Our plans are to continue to invest, we're growth investors. We feel we have identified a great company and we hope to invest in that and expand the output of the company which will require hiring more people in the local community," Waxman explained.
As the company looks to the future, the surrounding community is also wondering what will happen next.
James McQuilla with the Orangeburg County Chamber of Commerce says he and others hope the Zeus company will keep its metaphorical hands in Orangeburg.
"Invest in the community, because regardless of automation and robotics and technology, it's still people who create the innovations that make up a company. You want people to be happy, you want employees to be happy, you want the community you're in to feel connected, so I would hope that they continue that," McQuillan said.
The EQT company says they will officially close the business deal within the next two or three months, and they plan to keep all of the current leadership at Zeus.