M. Holland Company, a U.S.-based international distributor of thermoplastic resins and ancillary materials for sectors that include wire and cable, has been acquired by the Ravago Group, a Swiss-based business that has more than 45 manufacturing plants in North America, Europe, Asia and Africa.

The financial terms of the deal were not disclosed,

but a press release said the founding Holland family will retain a significant stake. Following the close of the transaction, M. Holland will continue to operate independently as a subsidiary of the Ravago Group family of companies, and its existing management team—including CEO and Board Chairman Ed Holland and President and COO Marc Fern—will continue to lead it.

“This transaction is an important inflection point for M. Holland as it places the company on a clear path to continued and long-term success,” Ed Holland said. “Following an exhaustive review of strategic paths, we determined the best way to serve our stakeholders and set up M. Holland for success over the next 70 years was to partner with an organization that shared our passion for employees, customers and suppliers. Ravago Group is that partner.”

Headquartered in Northbrook, Illinois, M. Holland has over $1.5 billion in annual sales, partners with more than 4,000 customers annually, and serves over 70 countries across North America, LATAM, EMEA and Asia. M. Holland has offices located in the U.S., Mexico, Puerto Rico and the Netherlands.

The Ravago Group, a global plastic production and distribution company, specializes in polymer and chemical distribution, building materials, recycling and raw materials. Its activities include distribution, resale and manufacturing, as well as business services and supply chain solutions. It has operations in more than 325 locations across North America, Asia, Africa and Europe, with its American headquarters located in Orlando, Florida.

“M. Holland is a well-known and respected name in the plastics industry, and we are thrilled to welcome (it)to the Ravago Group family of companies,” said Ravago Holdings America President and CEO Jim Duffy.

The transaction is subject to closing conditions