US plastic resins distributor Nexeo Solutions (The Woodlands, Texas; www.nexeosolutions.com) has agreed to buy the inventory and customer base of Dutch chemical producer DSM (Heerlen; www.dsm.com) in Europe’s Nordic countries from K.D. Feddersen (Hamburg, Germany; www.kdfeddersen.com). Terms of the deal, which encompasses mainly DSM’s resins business, were not disclosed. The US company said the move reflects its continued focus and commitment to optimise service and enhance its strategic position in the region, where it has expanded its team to better position itself for growth.

Nexeo Solutions is owned by Wilbur Ross, who made a name for himself as a private equity investor during a wave of consolidation among US automotive OEM suppliers more than 10 years ago. The company was first founded in 2011 but in its current makeup dates back to March 2016, when Ross’s special purpose acquisition vehicle, WL Ross Holding Corp, bought it and adopted the Nexeo name for its holding – see Plasteurope.com of 22.03.2016. Ross was recently named Secretary of Commerce in the cabinet of new US president Donald Trump.

The Texas-based company, which bills itself as “the largest global plastics distributor with a centralised business model,” already has distribution deals with DSM in other European regions. Along with plastics and composites, its portfolio includes chemicals and environmental services. Nexeo has distribution pacts with some 20 companies altogether, including LyondellBasell and ExxonMobil – whose last CEO, Rex Tillerson, was recently named US secretary of state.

Commenting on the additional pact with DSM, Nexeo’s senior vice president of Plastics, Shawn Williams, said the distributor sees “a lot of development opportunities in the Nordics with DSM’s portfolio.” He added that the new Nordic customers will be pleased with the US company’s project development service and expertise, which he said “comprehensively address all key applications for engineered plastics.” The transfer of K.D. Feddersen's customers is expected to be completed by the beginning of April.