Hexpol completes 48 million euro Unica acquisition
Hexpol's acquisition of Robbins LLC was the first in a decade long string of specialist compounding purchases that shows no sign of ending yet
Hexpol completed the 48 million euro acquisition of 100 per cent of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish based Private Equity firm on 7 July 2021. Unica’s turnover in 2020 amounted to 40 million euros, with a profitability “below Hexpol Group”, according to the business’s new owner. Unica will be consolidated into Hexpol from 1 July.
The acquisition is the latest in a string of specialist compounding business purchases by Hexpol, which has a stated aim of growing by acquisition. During the last decade, Hexpol has bought Robins LLC, Kardoes Rubber, Berwin Group, Trelleborg’s Czech Compounding unit, Valley Processing, Mesgo and Preferred Compounding prior to the Unica acquisition. The $232 million investment in Preferred Compounding in 2019 was Hexpol’s largest acquisition. And Hexpol’s £25 million purchase of Berwin Group, which was part of the Watts Group before that, was the smallest on record.
According to Hexpol, Unica is a significant player in Rubber Compounds in Spain, supplying “several demanding customers in the automotive, construction and agriculture sectors”. The compounder operates one compounding facility in Corella, Navarra, Spain with some 80 employees.
During the last few years, Unica has reportedly made “significant investments” in equipment and technology and is said to be “well-positioned to support the transforming automotive market in Southern Europe”. The company’s management team will stay with the company.
“Through the acquisition of Unica, we will strengthen our position in Rubber Compounds for demanding customers in Spain and other EU countries. Unica will be a perfect complement to our existing operations in Spain, mainly active in other sectors”, Ralph Wolkener and Carsten Rüter, presidents Hexpol Compounding Europe and Asia respectively.
Georg Brunstam, Hexpol president and CEO added: “I am pleased to welcome the Unica team, which we have great respect for, to the HEXPOL Group. Unica’s focus on customer satisfaction and quality fits perfectly in our Group.”
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