ORLANDO, FLA. (Aug. 14, 10:30 p.m. ET) — Resin distribution leader Ravago Holdings America has acquired elastomer processor and trader Goldsmith & Eggleton Inc. The deal includes G&E's Reliable Polymer Services LP business.
Wadsworth, Ohio-based G&E reprocesses ethylene propylene diene monomer, styrene butadiene rubber and related products, and distributes wide-spec grades of some specialty polymers. During the 1980s, G&E acquired a former shoe sole and mixing plant in Wadsworth and renovated it into a modern facility. In 2009, G&E - which was founded in 1968 - increased its production capacity by completing a three-stage mill room upgrade.
Reliable Polymer Services is based in Port Arthur, Texas. The business toll processes for makers of synthetic rubber and also makes its own line of reprocessed rubber. G&E and Reliable employ a total of 150.
No purchase price was disclosed in the deal. In a news release, RHA president James Duffy said the acquisitions “diversify RHA into a space where Ravago Europe is already a leading supplier.”
“We look forward to broadening Ravago's global reach in rubber, as it has in plastics,” he added.
For Orlando, Fla.-based RHA, it's the firm's first deal since it bought resin distributor and compounder Amco Plastic Materials Inc. late last year. RHA is a unit of Ravago Group, a distribution, compounding and recycling conglomerate based in Brussels.
Ravago Group also owns H. Muehlstein & Co. Inc., a leading North American resin distributor based in Wilton, Conn.