NORTHBROOK, Ill., Feb. 9, 2016 /PRNewswire/ -- M. Holland Company, a leading distributor of thermoplastic resins, today announced that it has signed a letter of intent to acquire Able International Corp. and Tril Export Corp., both headquartered in San Juan, Puerto Rico. Able International is the leading resin distributor in Puerto Rico, and Tril International is the leading resin distributor in the Caribbean and also serves customers in Central and South America.
The two businesses sell about 50-million pounds a year of thermoplastic resins to more than 100 customers through distribution and agency relationships with leading global resin producers. Products include a wide range of commodity and engineering resins.
"Able and Tril dovetail perfectly with our international expansion strategy, which aims to support our strategic supply partners who need a strong and stable channel to Latin American markets," said Edward J. Holland, M. Holland President and Chief Executive Officer. "Tril's export reach is very complementary to the export reach of our Mexican business unit, giving us penetration in most of the growing markets in Latin America."
Tracy Coifman, President of Able and Tril and the son of their founder, will continue to run the business. He will report to Steve Armstrong, M. Holland's Director of International Export and Trading. "We've been courted by other companies in the past, but it was the cultural fit and the strategic focus that excited us about joining M. Holland. We've both grown as family-owned businesses," said Coifman.
Armstrong commented, "In addition to its customer base and market reach, Able and Tril provide M. Holland with a strong competence in international logistics and trade compliance built on nearly 40-years of experience dealing with dozens of countries."
The transactions are expected to close by the end of April.
About Able International Corp. and Tril Export Corp.:
Able Export was founded in 1977 by Daniel Coifman and his wife, Linda, to service plastic processors in Puerto Rico. The couple started Tril International in 1988 to service international markets and take advantage of Puerto Rican tax incentives to encourage export businesses in the island.
About M. Holland:
For more than 65 years, M. Holland has been the leading family-owned distributor of the highest quality application-specific plastic resins, with strategically placed warehouses, packaging and bulk terminal locations across North America. The company serves about 4,000 customers supplying well over a billion pounds of resin annually sourced from the premier resin producers in the world. In July of last year, the company partnered with Grupo Solquim to form M. Holland Latinoamerica, headquartered in Mexico City, to provide a platform for expansion throughout Mexico and Latin America. M. Holland followed that expansion with the fourth quarter acquisition of Polymer Z, a Detroit-based automotive distributor.
For Additional Information Contact:
Alicia Webb, Marketing Communications Manager, M. Holland Company
SOURCE M. Holland