The Plaza Group to purchase US chemical distributor Conchemco
Petrochemical marketing firm The Plaza Group is set to acquire US-based marketer and distributor of chemicals and solvents Conchemco, for an undisclosed sum.
Established in 1990, Conchemco operates as an independent company focusing on in-home services of buying, selling and brokering chemicals.
The company’s core products are acetone, toluene, xylene as well as other major aromatic and aliphatic hydrocarbons.
Conchemco owner and CEO Tommy Mrazek said: “We are excited to be part of a company that shares the common business principles of integrity, quality and a positive outlook on the future of our business.”
The Plaza Group president and CEO Randy Velarde stated that the upcoming acquisition of the Conchemco brand will add significant strategic value to it, including the addition of its key officials, such as Tommy Mrazek, Rich Olson and Steve Martin.
Velarde said: “The acquisition of Conchemco is a great opportunity to expand our expertise in chemical distribution and marketing, as well as grow our client base.
“The addition of these key players enhances the value of the acquisition and fortifies future growth plans for The Plaza Group.”
The Plaza Group was founded in 1994 and focuses on marketing refinery and petrochemical products.
The company markets certain refining and chemical products for Husky Oil, Mitsui, Olin, Shell, Valero, Southern and Total Petrochemicals.