— By Plasteurope.com staff — 

Hexpol (Malmö, Sweden; www.hexpol.com) is expanding its market presence in the US. For USD 86 mn (EUR 80 mn), the Swedish company is set to buy 80% of the shares in Piedmont Resin Supply (Cartersville, Georgia, USA; www.piedmontresins.com), a compounder of polyamide 6 and 6.6, ABS, and polycarbonate. “The acquisition strengthens our capacities, application expertise, and customer base in the USA,” says Jan Wikström, head of the thermoplastic compounds business at Hexpol.

The deal was closed on 31 October. Under the terms of the purchase agreement, Hexpol holds the option to acquire the shares remaining with Piedmont founders Matt Griffith and Paul Daniel at a later date. In return, the two entrepreneurs have also secured an option to sell their shares in Hexpol. 

Related: Elastomer specialist Hexpol keeps annual sales stable thanks to acquisitions

Griffith and Daniel founded Piedmont Resin Supply in 2013. The company emerged from an Aquafil (Arco, Italy; www.aquafil.com) site after polyamide specialist Domo (Ghent, Belgium; www.domochemicals.com) withdrew from a planned acquisition – two years later, Domo purchased the Aquafil plant in Buford, Georgia, USA, which the Belgian company still operates today.

Piedmont employs around 60 and by its own account has a capacity of more than 32,000 t/y. In 2023, the company generated a turnover of more than USD 60 mn.