MALMO, Sweden—Hexpol has completed it acquisition of Ohio-based McCann Plastics L.L.C., bringing into the fold a profitable company that adds depth to Hexpol's thermoplastic compounding expertise and further strengthens its U.S. presence.
The $120 million purchase of the family-owned, North Canton-based McCann adds two Ohio locations to Hexpol's operations and brings 100 new employees into the Hexpol family. McCann recorded $72 million in sales last year and had a profitability level "just below that of Hexpol Group," making it a fitting complementary company.
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"The acquisition of McCann is fully in line with our growth strategy with acquisitions within polymer compounds and strengthens our market position in the U.S.," Hexpol CEO Georg Brunstam said in a statement
McCann, which specializes in thermoplastics compounds with special focus on rotational molding applications, supplies general industry, agriculture and the fast growing specialized cooling boxes markets. The company recently invested substantially in capacity and technology to enable further growth and to meet the increased demand for products.
