Hexpol: Swedes take over Star Thermoplastics

The Swedish plastics group Hexpol has acquired the US industry company Star Thermoplastic Alloys and Rubbers Inc. (Star Thermoplastics).

The Group announced the acquisition of 100% of the shares in Star Thermoplastics in a press release in mid-November. The shares were sold by company founder Thomas Dieschbourg, who will remain at the helm of Star Thermoplastics under the Hexpol umbrella. According to the press release, the financial volume of the takeover totalled USD 26.5 million.

Star Thermoplastics develops and produces compounds based on thermoplastic elastomers (TPE) for applications in the fields of medical technology, sporting goods, pet accessories, household goods and automotive. The company is based in Broadview near Chicago in the US state of Illinois and most recently generated annual sales of around USD 20 million with around 30 employees.

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Hexpol CEO Peter Rosén explained in the current press release: "The acquisition of Star Thermoplastics is in line with our growth strategy and enables Hexpol to enter the American TPE market through a well-established company with a strong product portfolio."

The listed Hexpol Group claims to be one of the leading companies in the development and production of thermoplastic elastomers (TPE) and complementary compounds. Hexpol also produces plastic profiles, seals for heat exchangers and plastic wheels, among other things.

The Group employs a total of around 5,000 people in 14 countries and most recently strengthened its position in the USA just over a year ago with the acquisition of the Ohio-based compounder McCann Plastics (see plasticker from 17 November 2022). Hexpol reported a net profit of SEK 2.017 billion (EUR 179 million) from sales of SEK 17.178 billion (EUR 1.526 billion) for the first nine months of the 2023 financial year.

More information: www.hexpol.com, www.starthermoplastics.com/

Hexpol, Malmö, Sweden