HEXPOL has signed an agreement to acquire 100% of the shares in McCann Plastics LLC from the McCann family. The company is specialized in niche thermoplastic compounds.
The acquisition is fully in line with HEXPOL’s M&A strategy of acquisitions within polymer compounds. During the last few years, McCann has invested substantially in capacity and technology to enable the company’s further growth and to meet the increased demand of its products.
“McCann has a strong position within its market niche that complements and widens our customer offer. The company is well invested with high competence in specialized thermoplastic compounds. We are looking forward to continued growth with McCann being part of HEXPOL,” said Jan Wikström, President HEXPOL Thermoplastic Compounding
McCann has during the last 12 months delivered sales of some 72 MUSD with a profitability level just below that of the HEXPOL Group. McCann has operations in two locations in Ohio, USA with some 100 employees in total. The main end customer segments are general industry, agriculture and the fast growth segment of specialized cooling boxes.
The acquisition price amounts to 120 MUSD on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. The transaction will close after regulatory approval which is estimated to the 4th quarter of 2022
