Ascend Performance to acquire Poliblend and Esseti Plast GD from D’Ottavio
Ascend Performance Materials, a Texas-based polyamide 66 resin producer, has agreed to acquire Poliblend and Esseti Plast GD from D’Ottavio Group.
As part of the deal, Ascend Performance Materials will acquire a manufacturing facility located in Mozzate, Italy, Esseti Plast GD’s masterbatch portfolio, and the engineering plastics portfolio of Poliblend, which comprises virgin and recycled grades of PA66, PA6, POM, and PBT.
Phil McDivitt – Ascend Performance Materials president and CEO said: “This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint. More importantly, it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand.”
Ascend Performance Materials CEO Phil McDivitt and D’Ottavio Group president Giancarlo D’Ottavio sign deal for the acquisition of Poliblend and Esseti Plast GD. Photo courtesy of Business Wire.
Established in 1999, Poliblend provides compounding and masterbatch services. These include color and additive concentrates that are known to improve the appeal and end-use performance of plastics products, fibers, and packaging.
Poliblend’s president Giancarlo D’Ottavio will continue to run its operations and will join the European management team of Ascend Performance Materials.
Giancarlo D’Ottavio said: “This is an exciting chapter for Poliblend. Combining the shared expertise of our companies creates opportunities to expand our reach while continuing to provide the high-quality products and service that our customers have come to trust.
Financial terms of the deal were not revealed. Ascend Performance Materials said that the acquisition is likely to be wrapped up in Q2 2020.