PolyOne Corporation, a provider of specialised polymer materials, has announced the acquisition of Rutland Holding Company, expanding its portfolio of specialty colour, additives and inks solutions.
Rutland specialises in customised formulations for consumer applications and is recognised as an industry leader in screen printing inks for the apparel market.
"PolyOne is a trusted resource for dynamic and innovative industries where colour serves as the ultimate expression of consumer preference," said Robert M Patterson, chairman, president and CEO, PolyOne Corporation.
"This recent investment is a natural extension of all that we do in colour – from InVisiOSM design services to additive technologies that enhance product performance beyond their appearance."
Headquartered in Pineville, North Carolina, Rutland has global sales and operations and goes to market with brand names, including Rutland, Printop, QCM and Union Ink. PolyOne plans to continue marketing with these brands, as well as its own Wilflex products, based on customer specification and preference.
"Colour and technology play an increasingly pivotal role for our customers in the apparel industry who have demanding performance expectations for how products look and feel," added Patterson.
"We have long distinguished ourselves in the industry as more than just a product provider, and we are thrilled to welcome Rutland to the PolyOne family as they share our passion for innovation and customer service."
The company said that Rutland will be immediately accretive to earnings and plans to discuss the transaction in more detail on its second quarter earnings call.