Ergon Purchases Resinall
Thu., Aug 2, 2018
JACKSON, Miss.— Ergon, Inc., announced that its wholly owned subsidiary, Ergon Chemicals, LLC, completed the purchase of Resinall Corp, Resinall Mississippi Inc., Industrial Transport Inc., and Resinall QALICB, LLC, (Resinall) on August 1, 2018. Resinall is a manufacturer of thermoplastic resins and polymers with manufacturing facilities in Hattiesburg, Mississippi, and Severn, North Carolina. This acquisition moves Ergon into the specialty chemicals market, building upon the company's commitment to being a global leader in the refining and marketing of specialty products.
Resinall utilizes both natural and synthetic raw materials, chemical reactions and process equipment to create binders and elastomer modifiers for a wide range of industrial applications. Like Ergon, the company serves customers in the adhesive, tire, ink, and specialty markets around the world.
"Resinall and Ergon are known for consistent supply of hydrocarbon specialty products and unparalleled customer service," commented Emmitte Haddox, Ergon CEO. "The overlap in our key industries and customer base makes Resinall a perfect fit for the Ergon organization. Ergon's existing terminaling, trucking and waterways transport infrastructure, as well as our technical and operational expertise and support, will help Resinall achieve even greater success. Our company cultures are remarkably similar, with utmost importance placed on safety, employees, technology, quality products, and customer relationships."
Like Ergon, which was started by Leslie Lampton with just two employees in 1954 and has grown to serve customers in over 90 countries around the world, Resinall was founded by a visionary who came from humble beginnings. The family-owned company was established by John M. Godina in 1981 and has been managed by his wife, his two sons, and an executive management team since his death in 2012.
"As we considered potential suitors for Resinall, Ergon was by far the best fit," said Lee Godina, former President of Resinall. "Not only does Ergon understand what it means to be a manufacturer, but they deeply value employees and support customers."
"We are excited to welcome Resinall to the Ergon family," Haddox added. "We look forward to continued growth for both companies in the future."
KeyBanc acted as exclusive sell-side advisor to Resinall on the transaction.
About Resinall Corp:
Resinall is a manufacturer of thermoplastic resins/polymers used as binders and/or elastomer modifiers in a wide range of industrial applications including adhesive, tire, ink, and specialty markets. The company's manufacturing facilities in Hattiesburg, Mississippi, and Severn, North Carolina, have a combined annual capacity of approximately 160 million pounds.
Ergon is a family-owned company that operates in six business segments: Refining & Marketing, Asphalt & Emulsions, Transportation & Terminaling, Oil & Gas, Real Estate, and Corporate & Other. Within Ergon's refining segment, Ergon Refining, Inc., is the world's largest producer of specialty naphthenic oils and Ergon - West Virginia, Inc., is a major manufacturer of Group I and Group II paraffinic base oils. Product lines include HyGold base oils, HyPrene process oils, HyVolt insulating oils, and HyPrint ink oils.
Director of Marketing Communications
Press Release provided by Ergon