M. Holland Acquires Puerto Rico-based Resin Distributors
SAN JUAN – Illinois-based M. Holland Co., a distributor of thermoplastic resins, announced Friday that it has completed the acquisition of Able International Corp. and Tril Export Corp., both based in San Juan.
In February the company announced it signed a letter of intent to acquire the two sibling companies. Able International was founded in 1977 by Daniel Coifman and his wife, Linda, to service plastic processors in Puerto Rico, and is the leading resin distributor on the island. Tril Export was founded in 1988 to service international markets and take advantage of Puerto Rican tax incentives to encourage export businesses on the island. It is the leading resin distributor in the Caribbean and also serves customers in Central and South America. The two businesses sell about 50 million pounds a year of thermoplastic resins to more than 100 customers, according to the published announcement.
“This expansion will help position M. Holland as the resin distribution leader in Latin American markets,” Ed Holland, president and CEO, said in a statement.
Holland’s release says Tracy Coifman, president of Able and Tril and the son of their founder, will remain with the business to help M. Holland expand its footprint in Latin America. Able and Tril will continue to operate from San Juan.
Holland serves about 4,000 customers supplying more than a billion pounds of resin annually. In July of last year, the company partnered with Grupo Solquim to form M. Holland Latinoamerica, based in Mexico City, to provide a platform for expansion throughout Mexico and Latin America. The company followed that expansion with the fourth quarter acquisition of Polymer Z, a Detroit-based automotive distributor.