HEXPOL acquires US TPE manufacturer Star Thermoplastics from Thomas A. Dieschbourg 100% shares. With this acquisition, HEXPOL has a firm foothold in the growing U.S. TPE market. Thomas A.Dieschbourg founded the company in 1993 and developed it into a technologically advanced TPE company. Thomas A. Dieschbourg will continue to serve as president of the company.
Peter Rosén, Acting CEO and Chief Financial Officer of HEXPOL, said: “The acquisition of Star Thermoplastics fits our growth strategy and will enable HEXPOL to enter the U.S. TPE market through an established company with a strong product portfolio. "
Thomas A. Dieschbourg, President of Star Thermoplantics, said: “HEXPOL will Thermoplastics are a perfect choice to add to the HEXPOL TPE product portfolio. HEXPOL will provide enhanced capabilities and better geographic coverage. The deal will benefit Star Benefits for both Thermoplantics employees and HEXPOL. "
"Star Thermoplastics will enable us to replicate our successful TPE growth journey in Europe in the larger U.S. TPE market. Our existing TPE companies in Europe and China as well as Star Thermo Plastics will become even stronger with this expanded footprint. "
Star Thermoplastics operates from a well-invested, growth-capable location near Chicago, Illinois, USA, with approximately 30 employees. The main end customer groups are automotive, building and construction, medical, industrial, electronics and consumer goods.
The acquisition price is $26.5 million, on a cash and debt-free basis, and will be funded by cash on hand and existing bank facilities. Star Thermoplastics will be merged into HEXPOL from November 1, 2023.
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