PolyOne Corp, a provider of specialized polymer materials, services and solutions, has acquired Uniplen Industria de Polimeros, a Brazilian producer of specialty engineered materials and distributor of thermoplastics.
The acquired Brazilian businesses are located in Sao Paulo, Santa Catharina and Novo Hamburgo, near Porto Allegre and serve customers in diverse end markets including consumer, transportation and appliance.
The transaction was completed for an upfront cash purchase price of $21m with a potential for further consideration payable over the next three years based on achieving certain performance metrics.
PolyOne chairman, president and CEO Stephen Newlin said that the Uniplen acquisition provides the company with local expertise in specialty engineered materials as well as good position in the Brazilian thermoplastics distribution market.
"The combination of Uniplen and our previously announced acquisition of Polimaster firmly establishes our Specialty product offering and overall customer service capabilities in Brazil," Newlin said.