HEXPOL has acquired 100% of the shares in the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc. (“Star Thermoplastics”) from Thomas A. Dieschbourg. Through the acquisition, HEXPOL establishes presence on the growing American TPE market. Thomas A. Dieschbourg founded the company in 1993 and has developed the company into a technically advanced TPE company. Thomas A. Dieschbourg will remain as the President of the company.
“The acquisition of Star Thermoplastics is in line with our growth strategy and will enable HEXPOL to enter the American TPE market through a well-established company with a strong product portfolio”, commented Peter Rosén, Acting CEO and CFO.
““Star Thermoplastics will enable us to replicate our successful European TPE growth journey on the larger American TPE market. Both our existing TPE companies in Europe and China and Star Thermoplastics will be stronger through this expanded footprint”, said Ralph Wolkener and Carsten Rüter, Presidents HEXPOL TPE Compounding
Star Thermoplastics currently has a turnover of approximately 20 MUSD with a profitability level below that of the HEXPOL Group. Star Thermoplastics has its operations near Chicago, Illinois, USA at one well-invested location with plenty of growth capacity and has some 30 employees. The main end customer segments are automotive, building & construction, medical, industrial, electronics and consumer.
The acquisition price amounts to 26.5 MUSD on a cash and debt free basis and is funded by a combination of cash on hand and existing bank facilities. Star Thermoplastics will be consolidated by HEXPOL from 1 November 2023.
