August 24 2023, David R Brown
Ravago acquires a majority stake leading N.American polymer distributor, M. Holland
Ravago Group, a leader in polymer recycling and distribution, has reached an agreement to acquire a controlling interest in M. Holland Company and its subsidiaries, a leading international distributor of thermoplastic resins and ancillary materials.
This is a rare opportunity for two strong, family-owned organisations to come together in a way that will ensure our customers get what they need, when they need it for years to come.Ed Holland
CEO and Chairman of M.Holland
This transaction will enable M. Holland to accelerate its growth strategy, providing the company with greater scale and resources as the plastics industry continues to rapidly evolve. The founding Holland family will retain a significant stake in M. Holland, though no other financial terms of the transaction were disclosed. Following close of the transaction, M. Holland will continue to operate independently as a subsidiary of the Ravago Group family of companies. M. Holland's existing management team, including Ed Holland, CEO and chairman of the board, and Marc Fern, president and COO, will continue to lead the company.
“This transaction is an important inflection point for M. Holland as it places the company on a clear path to continued and long-term success,” said Holland. “Following an exhaustive review of strategic paths, we determined the best way to serve our stakeholders and set up M. Holland for success over the next 70 years was to partner with an organisation that shared our passion for employees, customers and suppliers. Ravago Group is that partner. This is a rare opportunity for two strong, family-owned organisations to come together in a way that will ensure our customers get what they need, when they need it for years to come.”
“M. Holland is a well-known and respected name in the plastics industry, and we are thrilled to welcome Ed and his entire team to the Ravago Group family of companies,” said Jim Duffy, president and chief executive officer of Ravago Holdings America. “We are confident we will be able to provide M. Holland with the resources and capital necessary to scale the business and sustain its growth, all the while maintaining its strong culture and brand.”
The proposed transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals.
Since its founding in 1961, Ravago has been a family-owned global leader in plastics recycling, compounding, and distribution, serving more than 53,000 customers. Recycling has been Ravago's core and legacy since inception. Ravago's production competence consists of 45+ manufacturing facilities of which 19 are recycling and compounding plants in North America, Europe, Asia and Africa with a combined annual capacity of over 1,000,000 metric tons. This growth has been possible thanks to the 9,000 employees that make up the Ravago family and the values they represent: human focus, professionalism, entrepreneurship and humility. In 2021, the Ravago Group reported revenues of over EUR 13 billion.
Source(s): M. Holland Press Release