Formerra, the distributor of engineered thermoplastic resins, additives, and other specialty polymers in North America, has acquired Total Polymer Solutions (TPS).
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The acquisition of TPS is to enhance Formerra in the healthcare market and align with the company’s plan of expanding into Europe. TPS’s market presence in Ireland and the United Kingdom are particularly attractive to Formerra due to both countries’ growing leadership in medical device and equipment production.
Ronan Kennedy and Eamonn Keane, TPS’s co-founders and owners, will join the Formerra team and remain invested in the business going forward. TPS is the first add-on acquisition that Formerra has completed since H.I.G. acquired the Company from Avient Corporation in November 2022.
"Total Polymer Solutions will enable Formerra to strengthen its global healthcare distribution platform while building on both companies’ shared capabilities around rapid product development, innovation, and regulatory support," commented Cathy Dodd, chief executive officer of Formerra. "This acquisition enables us to better serve our global healthcare customers in Europe with streamlined supply chain management and faster go-to-market support, driving significant value for all stakeholders."