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HIG Capital creates Formerra following acquisition of Avient’s distribution business

An affiliate of HIG Capital has completed the acquisition of the distribution segment of Avient Corporation which will now operate as an independent entity and be renamed Formerra.

An affiliate of HIG Capital (HIG) has completed the acquisition of the distribution segment of Avient Corporation which will now operate as an independent entity and be renamed Formerra.

Formerra is a global distributor of highly engineered thermoplastic resins, additives, and other specialty polymers.

The company supports blue-chip customers and suppliers with its extensive engineered polymers portfolio and valued combination of commercial and technical expertise, global market knowledge, and industry-leading logistics and service capabilities. Formerra offers highly specialised technical, processing, design and regulatory support for critical end market applications in the healthcare, consumer, industrial and mobility markets.

Formerra is the fourteenth platform investment and the eighth corporate carve-out in the chemicals sector completed by HIG since 2008.

Piper Sandler & Co acted as exclusive financial advisor and Ropes & Gray LLP acted as legal counsel to HIG Capital.
 

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