Sweden’s Hexpol (Malmö; www.hexpol.com) has announced the purchase of US compounder McCann Plastics (North Canton, Ohio; www.mccannplastics.com) for USD 120 mn (EUR 120 mn).

The processor, previously managed by the family who owned the firm, has specialised in the production of thermoplastic compounds for niche applications, with a particular focus on rotational moulding. Subject to official approval, the transaction is expected to be completed in the fourth quarter of 2022.

McCann has generated sales of around USD 72 mn in the past 12 months, with “profitability just below that of the Hexpol Group”, according to the Swedish firm, which did not provide further details. McCann employs around 100 people at two locations in the US state of Ohio.

According to Hexpol CEO Georg Brunstam, the takeover strengthens the company’s US market position and follows the growth through acquisitions strategy. In the spring, the Scandinavian elastomer specialist took control of over 70% of its German competitor Almaak International (Krefeld; www.almaak.de – see Plasteurope.com of 16.03.2022), a move which followed an expansion of European operations in 2021 through two acquisitions on the Iberian Peninsula (see Plasteurope.com of 19.04.2021).

Hexpol announced sales of SEK 16 bn (EUR 1.51 bn) last year and an EBITDA of SEK 3 bn. The company specialises in the production of thermoplastic elastomeric materials for sensitive and regulated applications such as medical devices, toys, consumer goods, cars, and food-contact materials.