APPLETON, Wisconsin (From news reports) -- Encapsys has moved into its new world headquarters in Southpoint Commerce Park in Appleton, Wisconsin.
The two-and-a-half-year-old technology company has roots tracing back 60 years as a part of one of Appleton's oldest companies. It was previously a division of Appvion, but was sold in 2015 to reduce Appvion's debt.
Encapsys' new $17.5 million, two-story, 40,000-square-foot headquarters building is at 2515 Eisenhower Drive, behind Walmart on the east side.
It has a state-of-the-art chemical science and engineering laboratory, new pilot plant facility and an open office concept that houses nearly 100 employees. The company calls the building its innovation headquarters. It has a separate manufacturing plant in Portage.
Encapsys develops and manufactures microencapsulation technology for the building, construction, paper, bedding and personal care industries.
Sherman Capital Holdings LLC, a private investment firm based in Baltimore, Maryland purchased Encapsys for $208 million in August 2015. Conditions of the sale included a long-term supply agreement for Encapsys to continue to produce and sell microcapsules to Appvion for its carbonless paper production. Appvion is the successor to Appleton Papers, which was founded in 1907.
Encapsys' offices were inside Appvion until the move.
President Mary Goggans said the new building is important for the company's future and growth.
"This is going to be the world headquarters for microencapsulation," she said on encapsys.com. "We're already recognized worldwide for our patents and expertise, and now we have a place that we can show off."
Encapsys' new building is owned by Commercial Horizons, a real estate development company. It purchased the 7.32-acre property for about $330,000. Construction costs were about $17.5 million.
The building is in Appleton's sixth tax incremental financing district. As part of the development agreement with Commercial Horizons, the city will invest the lesser of either $3.7 million or 22 percent of the total equalized property value of the new headquarters.
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