NORTHBROOK, Ill., April 29, 2016 /PRNewswire/ -- M. Holland Company, a leading distributor of thermoplastic resins, today announced that it has completed the previously announced acquisition of sibling companies Able International Corp. and Tril Export Corp., both headquartered in San Juan, Puerto Rico.
In February the company announced that it signed a letter of intent to acquire the two companies. Able International is the leading resin distributor in Puerto Rico, and Tril Export 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.
"The completion of this acquisition marks a historic milestone for M. Holland," commented Ed Holland, President and Chief Executive Officer. "This expansion will help position M. Holland as the resin distribution leader in Latin American markets. We are delighted to have Able International and Tril Export officially join the M. Holland family. Like us, they are a family owned business and they truly embody all of the M. Holland core values."
Tracy Coifman, President of Able and Tril and the son of their founder, will remain with the business to help M. Holland expand its footprint in Latin America. "There is something special about a large family business that can make long-term investments and commitments for the benefit of its suppliers, customers, partners, and employees," Coifman stated. "Working with the M. Holland team over the past several months has been a career highlight for me. Speaking for the entire team, we are excited to be joining the M. Holland family."
Able and Tril will continue to operate from San Juan, Puerto Rico.
About Able International Corp. and Tril Export Corp:
Able International 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 on 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:
Marketing Communications Manager, M. Holland Company
SOURCE M. Holland