An affiliate of One Rock Capital Partners LLC (New York) has entered into a definitive agreement to acquire the plastics distribution business, Nexeo Plastics, of Nexeo Solutions Inc. (The Woodlands, TX). The transaction will follow Nexeo’s pending acquisition by Univar Inc. and is expected to close during the first half of 2019.
Nexeo Plastics is a global leader in the distribution of polymer products and prime engineering resins. Through its distribution network, Nexeo Plastics connects suppliers with customers across a broad cross section of industrial segments in more than 60 countries in North America, Europe and Asia through its proprietary technology platform. The company has distinguished itself as an industry leader through its extensive product portfolio, expansive distribution reach and commitment to service, said the press release announcing the transaction.
“The acquisition of Nexeo Plastics is the culmination of a yearlong evaluation by One Rock, during which we utilized our extensive experience in executing corporate carve-outs, together with our knowledge of the plastics, chemicals and distribution industries,” said One Rock Managing Partner R. Scott Spielvogel. “We fully expect that we will be able to help management fortify and expand the capabilities of the business, thereby driving value for suppliers and customers alike.”
Shawn D. Williams, Executive Vice President of Nexeo Plastics, commented, “We are very excited to have One Rock invest in our business, which Nexeo has built into one of the leading global plastics distribution companies. We look forward to operating as a pure-play plastics business and will focus our talent and resources on expanding our service offering for our suppliers and customers worldwide.”
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