Resin distributor M. Holland Co. has made its second expansion deal of 2015, acquiring distribution firm Polymer Z LLC for an undisclosed price.
Polymer Z is a specialty resin distributor based in Birmingham, Mich. The firm was founded in 2003 and is focused on the automotive industry. Northbrook, Ill.-based M. Holland will combine Polymer Z with its existing auto business to form M. Holland Automotive Group.
Polymer Z “brings a marquis customer base, an applications development capability and enhanced access to the automobile industry,” M. Holland President and CEO Ed Holland said in a Sept. 18 news release.
He added that the acquisition “accelerates our penetration in the automotive market, which is a priority for many of our strategic supplier partners.”
Prior to the acquisition, M. Holland “had done some automotive work, but not in higher-end growth applications for engineering resins,” corporate development vice president Dwight Morgan said in a phone interview.
Ed Holland said by phone that “it would have taken us five to 10 years to build the grass roots [in the automotive market] that we needed, so we found someone who already had that knowledge and experience.
“This gets us in the game immediately,” he added.
Polymer Z's line card consists mainly of engineering resins such as ABS, ASA and SAN. Many of these materials are used in auto interiors. The firm has annual sales volume of about 20 million pounds.
John Zessin, founder and president of Polymer Z, will lead M. Holland Automotive Group as managing director. He has previous auto industry experience with Dow Chemical Co. and Bayer AG. Zessin described the M. Holland deal as “an ideal match to expand the capabilities of both companies to better serve the automotive customer base.”
A half dozen technical and application development employees at Polymer Z also are expected to join M. Holland.
In May, M. Holland formed a joint venture with Mexican distributor Grupo Solquim SA de CV to grow its business in Mexico.