PolyOne Corp. is making its fourth specialty color acquisition in the last eight months with the purchase of Mesa Industries Inc.
Mesa, which was founded in 1990, is based in Phoenix and has a second plant in Fort Smith, Ark. The seller is Dennis Glaser, the president and CEO. Terms were not disclosed.
Polymer Transactions Inc. of Foxfire, N.C., advised Mesa on the deal. PTA President Bill Ridenour said Glaser plans to retire, but he will advise PolyOne for a time.
Mesa serves end markets including packaging, consumer products and outdoor equipment. The company started in liquid color and branched out into masterbatch, which now accounts for the majority of its business. Ridenour said.
Avon Lake, Ohio-based PolyOne was interested for Mesa's technical capabilities and geographic locations. The companies did not provide details on Mesa's size, but Ridenour called it a "very solid" mid-market company.
Chairman, President and CEO Robert Patterson said PolyOne is focusing on bolt-on acquisitions where the company can invest to grow and leverage its service and innovation expertise.
PolyOne, which is North America's largest compounder and concentrates maker and one of its largest resin distributors, in January bought a pair of specialty colorants and additives makers: Silcotec Inc. of La Porte, Ind., and Comptek Kunststoffverarbeitung GmbH of Diez, Germany. In June it bought Pineville, N.C.-based Rutland Holding Co., a maker of plastisol compounds, specialty color products and screen printing inks.
PolyOne plans to discuss the Mesa deal, as well as the June 9 acquisition of Rutland, and the announced $115 million divestiture of its Designed Structures and Solutions unit, in more detail on its second-quarter investor call.