Malmo, Sweden – Hexpol AB has acquired 80% of the shares in Italian elastomers compounder Mesgo Group of Gorlago, Italy, for €168 million, Hexpol has announced.
Mesgo is specialised in conventional rubber compounds and an “industry leader” in high-performance elastomers such as fluorocarbons and silicones, said the 1 Oct statement.
The Italian company has annual sales of €100 million and six facilities across Italy, Poland and Turkey. It supplies to industrial, consumer goods, transportation and automotive sectors in Italy and globally.
Hexpol described the acquisition as a strategic move into high-performance elastomers.
“With this acquisition Hexpol thereby adds a new important platform of high value-added solutions,” explained Hexpol CEO Mikael Fryklund.
The Swedish rubber group expects Mesgo’s technology and local manufacturing footprint to add “new significant competences and geographical markets” to the group.
“With its sizeable installed base of customers, Hexpol is uniquely positioned across the growing compounding industry and will allow us to reach new markets and qualified customers,” said Mesgo’s CEO Francesco Caldara, whose family remains a minority shareholder in the company.
Hexpol said it has an option to acquire remaining shares from the Caldara family in the future.