MALMO, Sweden—Hexpol has acquired Vicom 2002 S.L., a Spanish compounder focused on supplying the wire and cable market.
With 2020 sales of about $36 million, Vicom "is profitable" and employs around 30 people in its plant in Barcelona, according to Hexpol's March 2 release.
Vicom "strengthens our position in southern Europe in a segment favored by the global electrification trend," Ralph Wolkener and Carsten Ruter, presidents of Hexpol Compounding Europe/Asia, said in a statement.
The acquired company "has high competence and capacity and fits well into our current business structure," they added.
Hexpol plans to immediately start integrating Vicom into its organizational structure, marking the latest step in the expansion-through-acquisition of its core polymer compounding business.
"Vicom will, through its competence and capacity, fit very well into the Hexpol group and strengthen our position on a growing market," said Georg Brunstam, president and CEO of Hexpol.
The acquisition was funded by a combination of cash and existing bank facilities, with Vicom consolidated by Hexpol from March 1.