Ascend Performance Materials, an integrated polyamide (PA) 66 supplier, has signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group.
The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA 66, PA 6, PBT and POM.
“This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint,” said Phil McDivitt, Ascend’s president and CEO.
Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. “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,” said D’Ottavio.
Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.
Poliblend was founded in 1999 and offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging, and fibers.