Guzman Global, family owned business with more than 80 years of history, and Hromatka Group have reached an agreement for the latter to take a majority stake in Guzman Polymers, affiliate company of the former, dedicated to the distribution and commercialization of polymers for different industries (included its international subsidiaries, as well as its 50% Joint Venture in Portugal, Augusto Guimarães & Irmao).
Hromatka Group, from Austria and founded in 1969, is also a family owned business led by its founder Hans Hromatka and his son Alexander, and has companies in 12 countries in Central and Eastern Europe.
Both companies have relationship for more than 15 years and share a similar business philosophy: the focus on long term value creation, a firm bet on people and the delegation in them to foster an agile management adapted to each market. They also feel passionate about plastics and the added value of the technical materials and services provided to their customers, as well as the search for new sustainable solutions according to the current regulatory environment.
The fit between both groups with regards to geographical coverage is totally complementary, which will also result in a more effective search for synergies, keeping an approach of continuity with regards to the brand, the management and the Corporate Governance.
The basis of the agreement were set in 2019 and the current situation caused by the Covid pandemic has accelerated the process, something both companies consider that will bring advantages for its customers and will allow a strengthening of the relationship with its main suppliers, creating a leader European Group.
Guzman Global has been advised by DC Advisory as financial advisors and Allen&Overy as legal advisors. Hromatka Group has been advised by Dentons as legal advisor.
