When the organic functional initiator is reacted with the caprolactone a reaction occurs that can be represented in its simplest form by the equation: ##STR2## In this equation the organic functional initiator is the R(OH)x compound and the caprolactone is the ##STR3## compound; this can be epsilon caprolactone itself or a substituted caprolactone wherein R' is an alkyl, alkoxy, aryl, cycloalkyl,