STOCKHOLM—Hexpol A.B. has completed its acquisition of RheTech L.L.C. and RheTech Colors from the founders' families for about $112 million on a cash and debt free basis.
RheTech operates four facilities—in Whitmore Lake, Mich.; Fowlersville, Mich.; Sandusky, Ohio; and Blacksburg, S.C. Hexpol said RheTech reported sales of $117 million in 2013 and employs about 212.
Tracy Garrison, president and CEO of Hexpol Compounding NAFTA, said the acquisition expands the firm's NAFTA capabilities and capacities within polymer compounding and is a good complement to its present business.
Hexpol is a global polymers group with a presence in advanced rubber compounds, gaskets for plate heat exchangers, and plastic and rubber materials for truck and caster wheel applications. The group has about 3,900 employees in 11 countries and reported 2013 sales of about $1.08 billion.