MALMO, Sweden—Hexpol A.B. is acquiring Spanish rubber compounder Union de Industrias CA (Unica) from private equity firm Espiga Capital
The $57 million deal is subject to regulatory approvals and is estimated to be completed in the second quarter of 2021, Hexpol said in an April 12 statement.
Based in Corella, Navarra, Unica operates one compounding facility, employs 80 people and had a turnover of $48 million in 2020.
Operational since 1958, Unica has five mixing lines, using both intermix and tangential technologies. One mixing line is exclusively dedicated to color mixtures.
According to Hexpol, the Spanish compounder is a significant player in the country, supplying to "several demanding customers in the automotive, construction and agriculture sectors."
"Through the acquisition of Unica, we will strengthen our position in rubber compounds for demanding customers in Spain and other EU countries," said Ralph Wolkener and Carsten Rüter, the presidents of Hexpol Compounding Europe/Asia.
Unica will be "a perfect complement" to Hexpol's existing operations in Spain, which are mainly active in other sectors, they said.
Unica has made significant investments in equipment and technology in recent years and is "well positioned to support the transforming automotive market in southern Europe," Hexpol added.
The acquisition bid follows Hexpol's $36 million takeover of wire and cable compounder Vicom in early March.
The Swedish group also operates another compounding unit in Barcelona which supplies to the construction industry.
"This is a perfect acquisition as Unica mainly supplies to the automotive industry," a source close to Hexpol told ERJ.
This means Hexpol will run three Spanish sites in three different segments with no competition among them, the industry insider said.
