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One Rock to acquire Nexeo Plastics

An affiliate of One Rock Capital Partners (One Rock) is to acquire the plastics distribution business (Nexeo Plastics) of Nexeo Solutions (Nexeo).

The transaction will follow Nexeo’s pending acquisition by Univar and is expected to close during the first half of 2019.
 
Nexeo Plastics is a specialist in the distribution of plastics products, including polymer products and prime engineering resins. Through its vast distribution network, Nexeo Plastics connects world-class suppliers with customers across a broad cross section of industrial segments in more than 60 countries in North America, Europe and Asia. Nexeo Plastics utilises its proprietary technology platform to efficiently serve its suppliers and customers and has distinguished itself as an industry leader through its extensive product portfolio, expansive distribution reach and commitment to service.
 
Tony W Lee, Managing Partner of One Rock, says: “We are excited about the opportunity to create a standalone plastics distribution business and invest in growth by deepening its relationships with customers and supplier partners. We look forward to collaborating with Nexeo Plastics’ management team to achieve the full potential of the business.”
 
One Rock Managing Partner R Scott Spielvogel, adds: “The acquisition of Nexeo Plastics is the culmination of a yearlong evaluation by One Rock during which we utilized our extensive experience in executing corporate carve-outs, together with our knowledge of the plastics, chemicals and distribution industries. We fully expect that we will be able to help management fortify and expand the capabilities of the business, thereby driving value for suppliers and customers alike.”
 
“We are very excited to have One Rock invest in our business, which Nexeo has built into one of the leading global plastics distribution companies,” says Shawn D Williams, Executive Vice President, Nexeo Plastics. “We look forward to operating as a pure-play plastics business and will focus our talent and resources on expanding our service offering for our suppliers and customers worldwide.”

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