“We appreciate the work of the team in Cleveland and their tenacious commitment to advising HB Chemical and its affiliates throughout this important process. Ravago is the ideal partner to help our business take the next step in its history.”Jeff Rand, CEO HB Chemical, Inc
The private shareholders of HB Chemical Inc. have sold the company and its affiliates HB Chemical Mexico, S.A. de C.V. and HB Alchemy LLC to Ravago Group for an undisclosed consideration.
Headquartered in Twinsburg, Ohio, HB Chemical offers its customers a comprehensive inventory of rubber chemicals from leading manufacturers around the world, and maintains an extensive network of more than 50 stocking locations across the United States and Mexico to quickly and effectively serve its customers. HB Chemical will operate as a unit within Ravago Americas and will remain under the leadership of CEO Jeff Rand.
Headquartered in Luxembourg, Ravago Group is a global leader in the distribution, resale, compounding and recycling of plastic and elastomeric raw materials. This acquisition will establish a North American foothold in rubber chemical distribution for Ravago. The group distributes its products to more than 15,000 active customers across more than 24 countries.
Oaklins’ team in Cleveland served as the exclusive financial advisor to HB Chemical in this transaction. The team in Belgium introduced the buyer.