Spanish materials distributor Guzmán Global (Valencia; www.grupoguzman.com) has sold a major stake in its Guzmán Polymers subsidiary to polymer distributor Hromatka Group (Vienna / Austria; www.hgmag.ch), according to investment bank DC Advisory (New York, New York / USA; www.dcadvisory.com). The latter is acting as financial advisor to Guzmán.

Guzmán Polymers annually distributes around 80,000 t of polymers for varying industries in Southern Europe and generates sales of EUR 180m with 125 employees. Hromatka aims to become a leading polymer distributor in Central and Eastern Europe. Terms of the agreement were set in 2019 but impacts from the Covid-19 pandemic accelerated the process, DC Advisory said.

The acquisition includes Guzmán’s international subsidiaries and a joint venture in Portugal with Augusto Guimarães & Irmao (Vila Nova de Gaia / Portugal; www.agi.pt), in which Guzmán Global has held a 50% stake since 2002.

The relationship between Guzmán and Hromatka dates back 15 years, the company’s said. Hromatka’s thermoplastics distribution portfolio – including polypropylene, polyethylene, polyamide, ABS, PBT, polycarbonate, PC/ABS, PPO, PPS, PEI and PEEK – is complemented by its “SAX” line of polymer compounds which are manufactured in two factories.