Plixxent: Acquisition of British PU systems producer MRi Polytech
On 29 March 2021, Plixxent Holding GmbH announced the acquisition of MRi Polytech, a British producer of polyurethane systems focusing on outdoor systems as well as specialist CASE applications. Financial details of the transaction were not disclosed.
Plixxent is a leading independent polyurethane systems house with a focus on tailor-made systems and operates four production sites in Germany, the Netherlands, Denmark and Spain as well as nine further sales locations in Europe. Its polyurethane systems are used across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive. The company is majority-owned by H.I.G. Capital, a global private equity firm with more than EUR 34 billion capital under management.
According to Plixxent, with the acquisition of MRi Polytech the company extends its European footprint to the UK and strengthens and expands its product offering in the CASE segment with flooring products and adhesives for food packaging. Plixxent said this is a first step to significantly grow its presence in the region with both existing and new customers, and support the growth of MRi Polytech's products in continental Europe. MRi’s activities will continue to operate under their established trading names and the business and employees will benefit from the integration into the Plixxent network.
Vincent Snell, founder and owner of MRi Polytech, said: “MRi is a success story which has consistently delivered growth and profitability. More than two decades after I have founded this company, it is now time to open a new chapter. The integration into Plixxent allows us to reap further potential by being part of a truly pan-European platform. I am very proud of what the management team has achieved so far, and Plixxent is a perfect fit for MRi.”
Dr. Jörg Schottek, CEO of Plixxent, commented: “MRi’s development in the past years has been impressive. With their broad expertise in complex polyurethane solutions and their in-depth market understanding, MRi has built a strong and sustainable market position. We are delighted that MRi Polytech is now part of Plixxent and look forward to continuing our growth trajectory together. This acquisition significantly strengthens Plixxent’s position as leading independent supplier of polyurethane-based solutions in Europe.”