Avient sells distribution business, new company named Formerra

Polymer compounder Avient has sold its 'Avient Distribution' business to private equity firm H.I.G. Capital. The newly formed business is now operating independently under the name Formerra.

Formerra will continue to supply the same portfolio of traditional and engineered thermoplastic resins, additives, and other specialty polymers. 

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.”