As chief financial officer of Northbrook, Ill.-based resin distributor M. Holland Co., Pat McKune has seen company sales more than triple as a result of organic growth and five acquisitions.
McKune said the company has taken a "three-pronged approach" in its acquisition strategy. The first was filling out its footprint in the United States.
M. Holland acquired Christler Chemical and Plastics Inc., a Wilsonville, Ore.-based distributor of engineering and commodity thermoplastic resins, at the end of 2012, giving the company a presence in the Pacific Northwest.
"It was really the only sort of blank spot in the company from M. Holland Co. in terms of geography that we covered," McKune said. "It was a logical acquisition for us."
The second strategy was to expand internationally, specifically south of the border.
"Expanding into Mexico was a logical option because while we had customers in Mexico, we really didn't have a presence where we can provide the same kind of full-service distribution services that we do in the United States," he said. "We began a search for a company in Mexico, and we wound up partnering with [plastics and chemicals distributor Grupo] Solquim, who has been our partner since 2015."
McKune also noted the acquisitions of resin distributors Able International Corp. and Tril Export Corp., both of Puerto Rico, in 2016.
The third prong of the acquisition strategy was exploring and expanding the business within specific targeted markets, such as Birmingham, Mich.-based Polymer Z LLC in automotive in 2015 and Andover, Mass.-based T&T Marketing in wire and cable in 2017.
"Those two acquisitions were very market segment-specific, where we were looking to grow and expand our capabilities in a specific marketplace," McKune said.