Hexpol AB (Malmö, Sweden; www.hexpol.com) completed the acquisition of 80% of the shares in MESGO Group, based in Italy, from the existing main owner Mr. Francesco Caldara and co-owners. MESGO Group is an industry leader in high-performance elastomers as fluorocarbons and silicone. In addition, MESGO also specializes in conventional rubber compounds and thermoplastics. The major customer segments MESGO focuses on are industry, consumer products, transportation and automotive. MESGO Group has annual sales of around €100 million with around 180 employees in six facilities.
With this acquisition, HEXPOL takes a strategic move into high-performance elastomers, where MESGO has cutting-edge knowhow. MESGO has state of the art facilities in Carobbio and Gorlago in Italy, as well as in Poland and Turkey. MESGO has also facilities specializing in thermoplastics and masterbatches in Garlasco and Grigno in Italy.
The acquired business has an EBITDA margin in line with the HEXPOL Group.
Francesco Caldara, MESGO’s CEO remarks; “I’m enthusiastic about this industrial partnership with HEXPOL. I’m convinced that this opportunity will strengthen our Group, give continuity to its growth and accelerate its international expansion. With its sizeable installed base of customers, HEXPOL is uniquely positioned across the growing compounding industry and will allow us to reach new markets and qualified customers. With this new project, together with the management’s continued commitment, we will make the best use of our technology and further excel our production efficiency”.
“MESGO is a leading compounder in high performance elastomers, and with this acquisition HEXPOL thereby adds a new important platform of high value added solutions. With MESGO’s excellent material and application knowhow, very strong position in Italy, and local manufacturing in Poland and Turkey, we are adding new significant competences and geographical markets to the HEXPOL Group. This, combined with HEXPOL’s global reach, will allow us to leverage into further markets. I also appreciate the Caldara family’s decision and commitment to remain as minority owner, and look forward to a successful cooperation, “ said Mikael Fryklund, CEO HEXPOL Group
The acquisition price amounts to approximately €168 million on a cash and debt free basis and is funded by a combination of bank facilities and cash. Pursuant to the agreement, HEXPOL has an option to acquire remaining shares, and the Caldara family has an option to sell their remaining shares to HEXPOL. The business will be consolidated from October 1.