Italian compounder Taro Plast SpA has acquired compounder and resin distributor Delta Polymers for an undisclosed price.
Sterling Heights, Mich.-based Delta operates its compounding unit as Amplas Compounding. Most materials compounded by Delta are based on engineering resins. The firm also distributes similar materials.
Delta is owned by the Beaupre family. Del Beaupre founded the firm in 1978. According to Delta's website, the firm was the first company to provide a closed loop plastics recycling solution to a General Motors injection molding plant.
It's the second U.S. deal in less than six months for Soragna, Italy-based Taro Plast. In October, the firm acquired the copolyester business of Celanese Corp. Celanese was required to divest that business as part of its deal to acquire the engineering resins unit of DuPont Co.
Taro Plast, also founded in 1978, makes compounds based on polypropylene and other resins. The firm operates about 150 million pounds of annual compounding capacity.
MBS Advisors of Florence, Mass., represented Taro Plast in the deal. Delta was represented by Polymer Transaction Advisors Inc. of Foxfire, N.C.
Edward van de Krol of MBS said the transaction will be positive for both parties. "This is a good way for Taro Plast to grow its customer base," he said.