H.I.G. Capital’s Formerra acquires Suministro to enhance materials distribution in Mexico
H.I.G. Capital, a preeminent global alternative investment firm with a robust portfolio including Formerra, LLC, has made a significant move in the engineered materials market with the acquisition of Mexico City-based Suministro de Especialidades. The deal sees Formerra expanding its footprint in the engineered thermoplastic resins and specialty polymers distribution within Mexico, also marking its entry into elastomers and adhesives sectors.
Enhancing Material Solutions and Technical Expertise in Mexico
The integration of Suministro into Formerra’s operations aims to solidify its standing as a key player in the materials distribution industry in Mexico, bringing over thirty technical sales professionals to its dedicated regional team. The acquisition is more than a mere expansion; it is a strategic enhancement of Formerra’s product line and support capabilities, evidenced by the inclusion of in-country laboratory facilities in Mexico City for application and formulation aid.
A Synergistic Partnership for Continued Growth
Founded in 1990, Suministro has cemented its reputation as a premier distributor, providing unrivaled customer service and technical support across Mexico, with ISO 9001:2015 certification and a strong presence in key cities like Monterrey and Guadalajara. Suministro’s expertise aligns with Formerra’s mission to connect leading producers with OEMs and brand owners across multiple markets, bolstered by deep industry knowledge and robust e-commerce infrastructure.
Cathy Dodd, Chief Executive Officer of Formerra, emphasized the strategic importance of the acquisition: “Suministro’s extensive distribution network in Mexico, combined with Formerra’s leading technical capabilities and global distribution network, offer attractive opportunities for customers and suppliers seeking a dependable partner for growth in Mexico.”
Echoing this sentiment, Suministro’s founder, set to join the Formerra team, expressed optimism about the merger’s potential to extend additional support to customers and suppliers, which remains a top priority.
From H.I.G. Capital’s perspective, Robert Jang, Managing Director, articulated the firm’s investment strategy: “This investment underscores our commitment to expanding Formerra’s leadership position in engineered materials and the strategic Mexico market.”
Looking ahead, this acquisition positions Formerra to harness the potential of the Mexican market more robustly, with a keen eye on further selective acquisitions to enhance the company’s platform and the range of solutions available to its market base.