March 28 2018, David R Brown
Global polymer distributor Bamberger Polymers Corp. bought by Plastiche SA
Plastics distributor, Bamberger Polymers has been acquired by Plastiche SA, a company controlled by the Roussis-Van Gorp family. The Roussis-Van Gorp family has controlling stakes in both Plastiche, a private investment company, and Ravago, a leader in global distribution and compounding.
Bamberger will continue to compete vigorously with those Ravago companies that are in the same market as BambergerBamberger Polymers Spokesman
Bamberger is expected to operate as an entity independent from the Ravago Group and will continue to be managed by current senior management, with a newly named board of directors. The transaction is subject to regulatory approvals, and is expected to close in the first half of 2018.
A Bamberger spokesman said the firm has 39 shareholders made up of senior management and key employees. He added that the Bamberger family no longer holds an interest in the company. Steve Goldberg and Dennis Don have been co-CEOs of the firm since 2012.
“Bamberger will continue to compete vigorously with those Ravago companies that are in the same market as Bamberger,” the spokesman said.
Bamberger Polymers operates sales offices around the world, most recently opening one in Costa Rica in 2012 and has annual sales estimated at EUR 605M in 2017.
About Bamberger Polymers
The firm was founded in 1967 by Gerald Bamberger, who worked for the plastics compounding and trading business of oil and gas supplier Cities Service. Afer he retired in 1984 Bamberger Polymers became a public company from 1987 to 1993, after which it was bought out by management, including longtime executives Steven Goldberg, Dennis Don, Fred Garcia, Lawrence Ubertini. Bamberger Polymers distributes for 10 leading polymer suppliers, including Westlake Chemical, Indorama Ventures, Ineos Olefins & Polymers USA and Total Petrochemicals. It also distributes generic resin grades under its own Bapolene and Bapolan brand names.
Source(s): Chemagility/Plastics News Europe