TWINSBURG TOWNSHIP — HB Chemical Corporation was recently purchased by a Belgium company, and its new owner has no plans to move from the company’s Enterprise Parkway location.
Ravago Holdings America Inc. recently acquired HB Chemical Inc. for an undisclosed amount, according to a press release. Ravago's global operations are in Arendonk, Belgium, and its U.S. base is in Orlando, Fla. Ravago distributes plastics and specialty chemicals to more than 15,000 active customers across more than 24 countries.
Meredith Fendenheim, HB’s director of operations, confirmed the Twinsburg Township company is not moving from its 1665 Enterprise Parkway location, changing its name nor cutting its workforce of 26 full-time employees and two part-time employees.
"We’re going to be operating as kind of our own silo within Ravago," said Fendenheim. "Operations will stay the same … no personnel changes will be made. Our supply and customer bases will stay the same. I’m sure slowly over time with the assets Ravago has we’ll continue to grow."
She said HB will hire additional employees when that anticipated growth takes place.
Township Manager Robert Kagler said he is glad the company is staying in the township.
"Most importantly, the company appears to have made a strategic alliance that will be mutually beneficial to both parties," he said.
"The township is grateful the company chose to relocate to the JEDD from Akron about five years ago, wishes the company continued growth and success and will continue to do whatever it takes to be a partner in a great future," Kagler said.
HB Chemical is a North American distributor of specialty chemicals to manufacturers of rubber and elastomer products. HB will continue to be led by President Jeff Rand and will maintain its office in Twinsburg Township, Ravago’s press release stated. The firm stocks more than 600 products in multiple warehouses throughout North America.
"RHA was an excellent fit for HB," Rand said. "Their focus and understanding in both polymers and specialty chemicals coupled with their investment philosophy and family ownership made this feel like a natural home for our business and employees."
Ravago CEO Jim Duffy added, "HB represents a unique combination of Ravago's core businesses: polymers and chemicals. They have built a fantastic business by combining market-leading products with a unique service offering that will fit exceptionally well in RHA's portfolio."
Duffy said he expects that within Ravago Chemicals, HB will be able to accelerate its growth and expand its business model.
Reporter Steve Wiandt can be reached at 330-541-9420, email@example.com or @SteveWiandt_RPC.