The summer of 2017 is playing out under the sign of expansion for PolyOne Corp. (Avon Lake, OH), a provider of specialized polymer materials, services and solutions.
On June 8, the company announced the acquisition of Rutland Holding Co., broadening PolyOne’s portfolio of specialty color, additive and ink solutions. Rutland specializes in custom formulations for consumer applications and is widely recognized as an industry leader in screen printing inks for the apparel market.
“PolyOne is a trusted resource for dynamic and innovative industries, where color serves as the ultimate expression of consumer preference,” said PolyOne Chairman, President and CEO Robert M. Patterson. “This recent investment is a natural extension of all that we do in color, from InVisiO design services to additive technologies that enhance product performance beyond their appearance.”
Almost one month later, on July 6, PolyOne announced the acquisition of privately-owned Mesa Industries, a North American producer of color and additive materials and services with plants in Phoenix, AZ, and Ft. Smith, AR. Mesa produces both solid and liquid colorant technologies serving a diverse range of end markets, including packaging, consumer products and outdoor equipment.
“Our color and additive offerings continue to expand, and we’re very excited that Mesa is the latest addition to our leading portfolio of solutions,” said Patterson. “Mesa is our fourth specialty color acquisition in the last eight months.”
To fund the acquisitions, PolyOne divested its Designed Structures and Solutions business, which includes sheet, rollstock and packaging assets, completing the sale in July to Arsenal Capital Partners for $115 million. “Proceeds from the sale have been used to fund the recent acquisitions of Rutland and Mesa, which bolster our specialty color, additive and ink offerings,” said Patterson. “These acquisitions fit right into our sweet spot, where we can add commercial and operational excellence resources to accelerate innovation and growth for our customers, employees and shareholders.”