Hromatka Group to acquire majority stake in Guzman Polymers
Spanish materials distributor Guzman Global (Valencia) has sold a major stake in its Guzmán Polymers subsidiary to Austria based polymer distributor Hromatka Group for the latter to take a majority stake in Guzman Polymers, affiliate company of the former, dedicated to the distribution and commercialization of polymers for different industries, according to investment bank DC Advisory. The latter is acting as financial advisor to Guzmán.
The acquisition includes Guzmán’s international subsidiaries and a joint venture in Portugal with Augusto Guimarães & Irmao in which Guzmán Global, a family owned business with more than 80 years of history, has held a 50% stake since 2002.
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.
Both companies have relationship for more than 15 years and share a similar business philosophy: the focus on long term value creation, a firm bet on people and the delegation in them to foster an agile management adapted to each market. They also feel passionate about plastics and the added value of the technical materials and services provided to their customers, as well as the search for new sustainable solutions according to the current regulatory environment.
Guzmán Polymers annually distributes around 80,000t of polymers for varying industries in Southern Europe and generates sales of EUR 180m with 125 employees. Hromatka aims to become a leading polymer distributor in Central and Eastern Europe. Terms of the agreement were set in 2019 but impacts from the Covid-19 pandemic accelerated the process, DC Advisory said.