Hexpol closes Excel acquisition

ERJ staff report (DS)

Malmo, Sweden -- Hexpol AB has completed the acquisition of US rubber compounder Excel Polymers from Lion Chemical Capital LLC.

Excel Polymers will be fully owned by Hexpol and will be integrated and consolidated into Hexpol's Hexpol Compounding business area as of November 30. The acquisition price amounts to US$213.7 million on a cash and debt free basis. Purchase Price Allocations will be communicated as soon as the opening balance sheet is established.

"With the acquisition of Excel Polymers we are improving our capabilities and manufacturing footprint in order to service our customers on global reach. Our customers will experience the combination of global reach and local personalised service as we reinforce our theme "think globally, act locally". We are excited about the enhanced technology resources, capabilities and competences. I am enthusiastic about finally being able to kick off the integration process and I am very much looking forward to work together with our new colleagues in Excel", says Hexpol's CEO Georg Brunstam.

Hexpol Group will through the acquisition of Excel Polymers have expertise and manufacturing presence in 9 countries with 24 manufacturing facilities and will be the world leading global rubber compounding group.

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Press release from Hexpol

Press release from Lion Chemical