Materials distributor Ravago Americas LLC has acquired I. Stern & Co., a distributor and reseller of commodity resins based in Clark, N.J.
I. Stern was founded in 1991 by Ira Stern and later acquired and operated by industry veterans Brian Miles and Todd Stein. Together, they built the company to more than $100 million in annual sales with an emphasis on styrenics, polypropylene and PET, officials with Orlando, Fla.-based Ravago said in a Sept. 5 news release.
They added that I. Stern will be integrated into Ravago Americas North American resale business.
"We continue to look for quality commercial companies with great people and culture to help grow our business," Ravago Americas CEO Jim Duffy said in the release.
I. Stern was represented exclusively in the acquisition by CIM Partners of New York.
Ravago Americas has made nine acquisitions since 2016. The deal for I. Stern is its first since December when it acquired compounder Polymer Technology & Services LLC of Murfreesboro, Tenn.