Hexpol completes acquisition of specialised US compounding business

Malmo, Sweden – Rubber and plastics compounder Hexpol has completed its previously announced purchase of family-owned US compounder McCann Plastics LLC, for $120 million (€123 million).

Based in North Canton, Ohio, the acquired business specialises in niche thermoplastics compounds, with special focus on rotational moulding applications, said a 6 Dec Hexpol announcement.

According to an earlier Hexpol announcement in November, the US company delivered sales of $72 million last year with a profitability level “just below that of the Hexpol Group”.

McCann has recently invested substantially in capacity and technology to enable further growth and to meet the increased demand for products, Hexpol also noted.

With operations at two locations in Ohio and 100 employees, McCann supplies general industry, agriculture and the 'fast growing' specialised cooling boxes markets.

Hexpol said the transaction was expected to close after regulatory approval in the final quarter of 2022.

“The acquisition of McCann is fully in line with our growth strategy with acquisitions within polymer compounds and strengthens our market position in the US,” said group CEO Georg Brunstam.

“McCann has a strong position within its market niche that complements and widens our customer offer,” said Jan Wikstroem, president Hexpol Thermoplastic Compounding

The acquired company, he said, is “well invested” with high competence in specialised thermoplastic compounds.