Downers Grove, Illinois – Univar Solutions has sold the plastics distribution business of Nexeo Solutions to a daughter company of One Rock Capital Partners. This follows Univar’s acquisition of Nexeo at the beginning of March 2019, forming Univar Solutions.
One Rock is paying $640m for the plastics business. Univar will use the money to pay down debt.
Nexeo Plastics distributes a broad range of plastics products, including TPU. Its customers are plastics processors in more than 60 countries around the world.
‘We see tremendous growth for Nexeo Plastics as a stand-alone plastics distribution business,’ said Tony Lee, managing partner at One Rock.
‘Our partnership with One Rock and new structure as a pure-play plastics distribution business will allow us to focus our talent and resources,' said Shawn Williams, CEO of Nexeo Plastics.