Resin distributor M. Holland Co. (Northbrook, IL) announced that it has signed a letter of intent to acquire T&T Marketing (Andover, MA), a distributor of polymer resins and compounds to the wire and cable market. T&T has annual revenues of about $40 million and distributes throughout the United States and Canada.
“M. Holland identified wire and cable as an attractive market segment but lacked the technical expertise and product portfolio to compete in the space,” said Marc Fern, M. Holland Commercial Vice President. “T&T is extraordinarily strong in both, making it a perfect complement to our Business Development Group.”
M. Holland formed the Business Development Group in 2016 to apply focused marketing, technical and applications development resources to certain markets. The group currently comprises market development teams focused on automotive, healthcare, flexible packaging, rotational molding and color and compounding markets.
T&T is a “leading distributor of resins and compounds to the wire and cable market” and has a strong product portfolio as well as over 30 years of industry-specific expertise, said M. Holland. T&T recognized the need for a strategic partner to support its growth, and after a meeting of the respective management teams, there was agreement that a combination made strategic sense.
T&T has 26 employees and ships from seven warehouses in the United States and Canada. It provides a range of testing and applications development services at its lab in Easton, PA. T&T will continue to be led by owner and President Tom Jordan, and all employees will be retained.
“We are delighted to be linking with M. Holland, the ideal partner to help take T&T to the next level,” said Jordan. “Besides the scale and resources M. Holland provides, we share the same core values, which was very important to us.”
Ed Holland, President and CEO of M. Holland Company, commented, “First and foremost, we think that T&T Marketing will be a great cultural fit. At M. Holland, we pride ourselves on developing best-in-class talent, and we believe T&T Marketing will make a great addition to the M. Holland family.”
M. Holland has approximately 200 employees at locations in the United States, Canada, Mexico and Puerto Rico, with commercial representation in Latin America, Europe and Africa. The company has an annual resin volume of 1.4 billion pounds.
T&T will operate as a stand-alone business for at least the first year, and the name will be retained for that time period. It will be branded as a business unit of M. Holland, but longer term, it is M. Holland’s intention to have a unified global name and brand.
This transaction is expected to close in November of this year.