French compounder Benvic Group has made its 10th acquisition in less than four years, this time buying Trinity Specialty Compounding for an undisclosed price.
Benvic is making the acquisition through Chemres, the Princeton, N.J.-based compounder that it acquired in August. Trinity of West Unity, Ohio, had been owned by materials supplier Ravago Americas.
Trinity is a custom compounder specializing in flame-retardant, cross-linked and specialty additive compounds for several industries, including wire and cable, appliances and construction. The firm employs about 35 at a 125,000-square-foot location and operates four continuous mixers. Chemres had been a longtime toll compounding customer of Trinity, officials said.
In a Jan. 12 news release, officials described the acquisition as "another major milestone" for Benvic and said that it fits the group's strategy of building a customer-driven business for custom compounding services with international reach.
"With this acquisition, Chemres expects to grow its activities at the West Unity site and strengthen the relationship with Ravago and its portfolio companies," they added.
Benvic CEO Luc Mertens said in the release that the acquisition "is part of Benvic's ambition to accelerate its development in the USA." Chemres and Trinity are the firm's first two U.S. acquisitions. Five of its previous eight had been made in Italy.
"I am delighted by the acquisition of Trinity, a best-in-class specialty compounder that we have known and have worked with for a long time," said Chemres CEO Paul Keimig, whose firm operates a plant in Chesapeake, Va. "We are also enthusiastically seeking to add more strategic compounding acquisitions in the near future."
Ravago Holdings America CEO James Duffy said that "many of our portfolio companies, including Ravago Manufacturing, have long-standing relationships with Chemres," and that Chemres and Benvic "have a strong understanding of the operations at the West Unity site."
Benvic was founded in 1963 and has been owned by Italian investment firm Investindustrial since 2018. The firm employs 600 at 10 production sites.
The Ravago businesses are part of Luxembourg-based Ravago Group, a global materials distributor, compounder and recycler. The 8,000-employee firm has more than 14 billion pounds of annual polymer sales and operates more than 1.7 billion pounds of recycling and compounding capacity.