Hexpol has today signed an agreement to acquire 100% of Unión de Industrias C.A (Unica) from Espiga Capital, a Spanish based Private Equity firm for approximately €48.0 million on a cash- and debt-free basis. Unica is a significant player in rubber compounds in Spain, supplying several demanding customers in the automotive, construction and agriculture sectors.

"Through the acquisition of Unica, we will strengthen our position in Rubber Compounds for demanding customers in Spain and other EU countries. Unica will be a perfect complement to our existing operations in Spain, mainly active in other sectors," Ralph Wolkener and Carsten Rüter, Presidents Hexpol Compounding Europe/Asia, said.

During the last few years, Unica has made significant investments in equipment and technology and is well positioned to support the transforming automotive market in Southern Europe. The company's strong and experienced Management Team will stay with the company and further drive growth and technical excellence.

"I am pleased to welcome the Unica team, which we have great respect for, to the Hexpol Group. Unica's focus on customer satisfaction and quality fits perfectly in our Group," Georg Brunstam, President and CEO, Hexpol.

Unica's turnover in 2020 amounted to €40 million with a profitability below Hexpol Group. Unica operates one advanced compounding facility in Corella, Navarra, Spain with some 80 employees.

The acquisition price is funded by a combination of cash and existing bank facilities. The transaction will close after regulatory approval, which is estimated to the second quarter of 2021.