Ergon enters specialty chemicals market with acquisition of Resinall
Ergon, Inc., announced that its wholly-owned subsidiary, Ergon Chemicals, LLC, has completed the purchase of Resinall Corp, Resinall Mississippi Inc., Industrial Transport Inc., and Resinall QALICB, LLC, (Resinall) on 1 August 2018. Resinall is a manufacturer of thermoplastic resins and polymers with manufacturing facilities in Hattiesburg, Mississippi, and Severn, North Carolina, in the United States.
This acquisition moves Ergon into the specialty chemicals market, building upon the company’s commitment to being a global leader in the refining and marketing of specialty products.
Resinall utilizes both natural and synthetic raw materials, chemical reactions and process equipment to create binders and elastomer modifiers for a wide range of industrial applications. Like Ergon, the company serves customers in the adhesive, tire, ink, and specialty markets around the world.
“Resinall and Ergon are known for consistent supply of hydrocarbon specialty products and unparalleled customer service,” said Emmitte Haddox, Ergon CEO. “The overlap in our key industries and customer base makes Resinall a perfect fit for the Ergon organization. Ergon’s existing terminaling, trucking and waterways transport infrastructure, as well as our technical and operational expertise and support, will help Resinall achieve even greater success. Our company cultures are remarkably similar, with utmost importance placed on safety, employees, technology, quality products, and customer relationships.”
Like Ergon, which was started by Leslie Lampton with just two employees in 1954 and has grown to serve customers in more than 90 countries around the world, Resinall was founded by a visionary who came from humble beginnings. The family-owned company was established by John M. Godina in 1981 and has been managed by his wife, his two sons, and an executive management team since his death in 2012.
“As we considered potential suitors for Resinall, Ergon was by far the best fit,” said Lee Godina, former President of Resinall. “Not only does Ergon understand what it means to be a manufacturer, but they deeply value employees and support customers.”
“We are excited to welcome Resinall to the Ergon family,” Haddox added. “We look forward to continued growth for both companies in the future.”
KeyBanc acted as exclusive sell-side advisor to Resinall on the transaction.