Luxembourg-based polymer recycling and distribution company Ravago Group will acquire a majority interest in M. Holland Co., an international distributor of thermoplastic resins and ancillary materials, M. Holland announced yesterday on its website. The founding Holland family will retain a significant stake in the Northbrook, IL–based company; no other financial terms of the transaction were disclosed.
M. Holland said the transaction will enable acceleration of its growth strategy, providing the company with greater scale and resources as the plastics industry continues to rapidly evolve. Following close of the transaction, M. Holland will continue to operate independently as a subsidiary of the Ravago Group family of companies. M. Holland’s existing management team, including Ed Holland, CEO and chairman of the board, and Marc Fern, president and COO, will continue to lead the company.
“This transaction is an important inflection point for M. Holland as it places the company on a clear path to continued and long-term success,” said CEO Holland. “Following an exhaustive review of strategic paths, we determined the best way to serve our stakeholders and set up M. Holland for success over the next 70 years was to partner with an organization that shared our passion for employees, customers, and suppliers. Ravago Group is that partner. This is a rare opportunity for two strong, family-owned organizations to come together in a way that will ensure our customers get what they need — when they need it — for years to come.”
M. Holland reported more than $1.5 billion in annual sales and serves over 70 countries. Offices are located in the United States, Mexico, Puerto Rico, and the Netherlands.
Ravago Group specializes in polymer and chemical distribution, building materials, recycling, and raw materials. It has operations in more than 325 locations across North America, Asia, Africa, and Europe. Its US headquarters is in Orlando, FL.
“M. Holland is a well-known and respected name in the plastics industry, and we are thrilled to welcome Ed and his entire team to the Ravago Group family of companies,” said Jim Duffy, president and chief executive officer of Ravago Holdings America. “We are confident we will be able to provide M. Holland with the resources and capital necessary to scale the business and sustain its growth, all the while maintaining its strong culture and brand.”
The proposed transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals.