In the time it takes you to read this sentence, Ravago Group may have made another acquisition.
Arendonk, Belgium-based Ravago on Sept. 1 confirmed its purchase of polypropylene compounder International Polymers Corp. of Allentown, Pa. No purchase price was disclosed in the sale, which includes all manufacturing assets, real estate and brand identity. It also includes trade names, supplier and customer lists, and all other assets required to operate the business.
The announcement came a day after Ravago confirmed its purchase of Industrial Resin Recycling Inc., a recycler and toll compounder based in Howell, Mich. Ravago now has made four acquisitions in 2016. The firm made both the IPC and IRR deals through its Ravago Holdings America unit, which is based in Orlando, Fla.
The IPC purchase is Ravago's most recent move to strengthen its position in North American plastic compounding, officials said in a news release. IPC's strength in key industry segments such as automotive and building and construction — as well as its expertise in polypropylene compounding — fit in with Ravago's existing product line and market strategy, they added.
“The objective of [Ravago Holdings America] continues to be one of strategic expansion in order to serve our broad and growing customer base,” President and CEO Jim Duffy said in the release. “The addition of IPC to the Ravago family of companies advances that goal both regionally, as well as beyond North America, in terms of serving our customers.”
IPC was founded in 1985 and operates six extrusion lines with annual capacity of 150 million pounds at a 200,000-square-foot plant. The site has its own rail spur as well as several bulk storage silos and more than 100,000 square feet of warehouse space. IPC's management team has owned the business since 2005.
“IPC was built on a vision of customer service and product line focus that allowed our business to thrive over the last 31 years,” President Brian Taschler said in the release. “By joining the Ravago family of companies we can continue in that tradition and achieve even greater heights in expanding our business across North America.”
In addition to its IPC and IRR deals, Ravago earlier this year acquired TH Hilson Co., a specialty chemicals distributor in Wheaton, Ill. Products distributed by Hilson include acrylics, polyurethane dispersions, epoxies, silicones, pigments, liquid colorants and a wide range of plastics additives.
Earlier this year Ravago became full owner of chemicals distributor Campi y Jove of Barcelona. That firm's products include PU resins and composites and plastics additives.
Ravago employs 5,000 worldwide, distributing almost 9 billion pounds of resins and compounds to 40,000 customers. The firm also operates 30 manufacturing sites for recycling and compounding, as well as production of expanded polystyrene resin and finished products for the building and construction market.
North American operations for Ravago include resin distributors H. Muehlstein and Amco Polymers, as well as compounder Entec Polymers.