Less than six months after an ownership change, resin distributor Formerra LLC has made a deal of its own, acquiring Irish materials supplier Total Polymer Solutions for an undisclosed price.
Romeoville, Ill.-based Formerra has worked with TPS of Dublin for more than a decade, Formerra officials said in an April 4 news release. TPS sells into Ireland, the United Kingdom and other parts of Europe. The firm serves the manufacturing operations of multinational health care customers.
TPS co-founders and owners Ronan Kennedy and Eamonn Keane and all of the firm's employees will join Formerra. TPS was launched in 2002 and distributes a wide range of resins, compounds, concentrates and thermoplastic elastomers.
The acquisition "will enable Formerra to strengthen its global health care distribution platform while building on both companies' shared capabilities around rapid product development, innovation, and regulatory support," CEO Cathy Dodd said in the release.
She added that the deal "enables us to better serve our global health care customers in Europe with streamlined supply chain management and faster go-to-market support."