Resin distributor Nexeo Plastics LLC has acquired Nevicolor SpA, a resin distributor and compounder based in Luzzara, Italy.
In a June 1 news release, officials with Nexeo in The Woodlands, Texas, said that Nevicolor is "a family-founded business ... with broad geographic reach" throughout Italy. Nexeo is an affiliate of GPD Cos. Inc. No purchase price was disclosed.
They added that Nevicolor's products serve customers and suppliers in the industrial components, health care, automotive, advanced packaging, agriculture and electrical sectors. Nevicolor serves more than 800 customers with a portfolio of more than 3,000 polymer grades, including recycled materials.
The acquisition "increases GPD's scale and affords Nexeo Plastics access to Nevicolor's highly technical and analytical specialization," GPD CEO Paul Tayler said in the release.
Nevicolor business director Alessandro Negri added that the deal "will enhance and streamline our operations in Europe."
GPD is a holding company formed by investment firm One Rock Capital Partners LLC to create a leading group of global value-added distributors. GPD's assets include Nexeo, which has been majority-owned by One Rock — based in New York and Los Angeles — since early 2019.
In January, GPD acquired Distrupol, a European materials distributor based in Chertsey, England. Distrupol sells more than 4,000 grades of material, distributing resins and compounds from 22 suppliers.
Nexeo has annual sales estimated at around $2 billion. The firm distributes resins and compounds in North America, Europe and Asia for more than 30 suppliers.