July 31 2020, David R Brown
Hromatka Group to acquire majority stake in Guzman Polymers
Spanish materials distributor Guzmán Global has sold a major stake in its Guzmán Polymers subsidiary to polymer distributor Hromatka Group. The acquisition includes Guzmán's international subsidiaries (Italy, Turkey) and a joint venture in Portugal with Augusto Guimarães & Irmao, in which Guzmán Global has held a 50% stake since 2002. The companies have had a relationship for more than 15 years and share a similar business philosophy.
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The basis of the agreement were set in 2019 and the current situation caused by the Covid pandemic has accelerated the process, something both companies consider that will bring advantages for its customers and will allow a strengthening of the relationship with its main suppliers, creating a leader European Group.
Guzmán Polymers annually distributes around 80,000tpa of polymers for varying industries in Southern Europe and generates sales of EUR 180m with 125 employees. The fit between both groups with regards to geographical coverage is complementary with Guzman's business focused on Southern Europe and Turkey and Hromatka's on Central Europe and the CEE region.
Guzman Global has been advised by DC Advisory as financial advisors and Allen&Overy as legal advisors. Hromatka Group has been advised by Dentons as legal advisor.
About Hromatka Group
Hromatka Group, from Austria and founded in 1969, is also a family owned business led by its founder Hans Hromatka and his son Alexander, and has companies in 12 countries in Central and Eastern Europe. Hromatka’s thermoplastics distribution portfolio, which includes polypropylene, polyethylene, polyamide, ABS, PBT, polycarbonate, PC/ABS, PPO, PPS, PEI and PEEK, is complemented by its 'SAX' line of polymer compounds which are manufactured in two factories.
Source(s): DC Advisory Press release