Materials distributor Ravago Americas LLC is ending 2017 the same way it began — with an acquisition to grow the company.
Orlando, Fla.-based Ravago on Dec. 18 announced that it had acquired Polymer Technology & Services LLC, a compounder based in Murfreesboro, Tenn. Ravago will combine PTS with its Amco Polymers resin distribution unit, officials said.
"We continue to grow our business by connecting with high-quality companies that have great people and a strong strategic fit within our businesses," Ravago President Jim Duffy said in a news release. "The PTS culture, market reputation and unique business model are a perfect complement to Amco Polymers."
PTS makes specialty compounds based on polycarbonate, nylon, ABS, acetal and other materials, primarily for the electrical/electronics market. The firm was founded in 1992 by industry veteran Tom Hooper, who had 20 years of experience with materials firms Eastman, Celanese and Borg-Warner.
In the release, Hooper said that the focus of PTS "was on the combination of customer service, OEM application development, and product technology, especially with flame retardant polymers."
PTS will continue to operate in its current business model until full integration into Amco Polymers occurs in 2018, officials added. PTS also sells into Europe and Asia, and opened a sales and logistics office in Guadalajara, Mexico, in late 2016.
It's the second purchase of the year for Ravago. In February, the firm bought specialty chemicals distributor TMC Materials Inc. of Worcester, Mass. Ravago also made six acquisitions in 2016.