For the second time in two months, US plastic resins distributor Nexeo Solutions (The Woodlands, Texas; www.nexeosolutions.com) has clinched an international deal, this time buying Mexican PU distributor Ultra Chem (Mexico City; www.ultrachem.com.mx) for an undisclosed sum. The acquired company distributes polyurethanes for flexible foam products as well as a range of speciality chemicals and plastics-related products. Its portfolio includes polycarbonate, ABS and SAN resins in addition to plastic additives such as PVC stabilisers, antioxidants and foaming agents. International clients include Dow Chemical, BASF, DSM and Lubrizol as well as smaller companies based in Mexico and Latin America.

The transaction, which is subject to the usual closing conditions and regulatory approvals, is expected to be completed during the second quarter. “Acquiring Ultra Chem is aligned with our strategic objectives and accomplishes two goals. It expands our overall specialty mix and extends our chemical reach into Mexico,” said Nexeo CEO David Bradley. He added that the company is “a strong cultural fit with complementary end markets and current margins that are immediately accretive.” The Mexican firm’s sales team also includes technical experts.

Earlier in March, Nexeo appointed Dan Smith as its new chairman, replacing Wilbur Ross who resigned to become US secretary of commerce under president Donald Trump.