Former Avient Distribution business acquired by H.I.G. Capital which will invest in its next stage of growth as an independent company
November 1, 2022 – Formerra marks its first day of operation as an independent material solutions distributor following the closing of its purchase by H.I.G. Capital, a private equity firm, from Avient Corporation (NYSE:AVNT).
Formerra, formerly Avient Distribution, will continue to supply and support thousands of customers worldwide with its extensive material portfolio of traditional and highly engineered thermoplastic resins, additives, and other specialty polymers. In addition to these materials, Formerra will preserve and provide its valued combination of expertise, global market knowledge, and industry-leading logistics and service.
As an independent distributor, Formerra will continue to leverage its Company’s foundational strengths. Cathy Dodd, Formerra CEO said, “Although today we go by a new name, Formerra is certainly not a newcomer to the distribution world. This is an exciting era for us and a terrific opportunity to expand and evolve. We will focus on staying true to our values while building on our strengths - long-standing supplier and customer relationships, a reputation for ingenuity, proven technical and commercial expertise, and solutions-based approaches to complex end-market applications.”
As a standalone business, Formerra will continue investing in its core competencies, which include:
“When faced with a challenge,” Ms. Dodd explains, “Formerra combines forces with our customers and suppliers, leveraging our deep market insights and materials expertise to achieve results. We dig in, roll up our sleeves, and solve problems. Customers trust us to identify new and creative approaches to enable their innovations and achieve business goals. With the benefit of our new partnership with H.I.G. Capital, this approach will only grow stronger.”
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Formerra is a preeminent distributor of engineered materials, connecting the world’s leading polymer producers with thousands of OEMs and brand owners across healthcare, consumer, industrial, and mobility markets. Powered by technical and commercial expertise, it brings a distinctive combination of portfolio depth, supply chain strength, industry knowledge, service, leading ecommerce capabilities, and ingenuity. The experienced Formerra team helps customers across multiple industries to design, select, process, and develop products in new and better ways – driving improved performance, productivity, reliability, and sustainability. To learn more, visit www.formerra.com.
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