14.11.2023 • NewshexpolcompoundingTPE

Hexpol Buys US Thermoplastic Elastomer Compounder Star Thermoplastic

Sweden’s Hexpol has acquired the American thermoplastic elastomers (TPE) compounder Star Thermoplastic Alloys and Rubbers for $26.5 million from Thomas A. Dieschbourg, who founded the company in 1993 and will remain as its president.

The transaction will be funded by a combination of cash on hand and existing bank facilities, Hexpol said.

Peter Rosén, acting CEO and CFO of Hexpol, commented: "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."

"Hexpol 's addition of Star Thermoplastics to Hexpol TPE portfolio is a perfect fit. Hexpol will provide enhanced capabilities and a better geographic reach. The transaction will be beneficial both to the Star Thermoplastics employees and to Hexpol," said Dieschbourg

© Srebrina Yaneva/iStockphoto
© Srebrina Yaneva/iStockphoto

Ralph Wolkener and Carsten Rüter, presidents Hexpol TPE Compounding, added: "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."

Star Thermoplastics currently has a turnover of approximately $20 million with operations near Chicago, Illinois, USA has some 30 employees. The main end customer segments are automotive, building & construction, medical, industrial, electronics and consumer.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.