Materials firm M. Holland Co. has continued its buying run by purchasing a pair of resin distribution firms in Puerto Rico.
The businesses are Able International Corp. and Tril Export Corp. Both firms are based in San Juan and are owned by their founders, the Coifman family. The combined businesses distribute about 50 million pounds of resin per year, with Able selling to customers in Puerto Rico and Tril supplying customers throughout the Caribbean and in Central and South America.
The acquisitions “can bring us sourcing and instant credibility in Puerto Rico and the Caribbean,” M. Holland president and CEO Ed Holland said in a Feb. 9 phone interview. “We're looking beyond the walls of our operations in the U.S., Canada and Mexico.”
He added that the Able/Tril deal complements his firm's Mexican distribution. In May, M. Holland formed a joint venture with Mexican distributor Grupo Solquim SA de CV.
M. Holland followed up that deal in September when it bought distributor Polymer Z of Birmingham, Mich. The Able/Tril transaction brings M. Holland's number of deals to four in the last 10 months.
No purchase price was disclosed in the Able/Tril deal. Both firms distribute a variety of commodity and engineering resins.
Tracy Coifman, president of both Able and Tril, will continue to run the businesses. His parents, Daniel and Linda, founded Able in 1977 and Tril in 1988.
“We've been courted by other companies in the past,” Tracy Coifman said in a news release. “But it was the cultural fit and the strategic focus that excited us about joining M. Holland.”
M. Holland ranks as one of North America's largest resin distributors, supplying more than one billion pounds of resins and compounds annually to around 3,000 customers. The firm represents more than 20 materials suppliers.
