Market Overview

Ergon Purchases Resinall


Ergon, Inc., announced that its wholly owned subsidiary, Ergon
Chemicals, LLC, completed the purchase of Resinall Corp, Resinall
Mississippi Inc., Industrial Transport Inc., and Resinall QALICB, LLC,
(Resinall) on August 1, 2018. Resinall is a manufacturer of
thermoplastic resins and polymers with manufacturing facilities in
Hattiesburg, Mississippi, and Severn, North Carolina. This acquisition
moves Ergon into the specialty chemicals market, building upon the
company's commitment to being a global leader in the refining and
marketing of specialty products.

Resinall utilizes both natural and synthetic raw materials, chemical
reactions and process equipment to create binders and elastomer
modifiers for a wide range of industrial applications. Like Ergon, the
company serves customers in the adhesive, tire, ink, and specialty
markets around the world.

"Resinall and Ergon are known for consistent supply of hydrocarbon
specialty products and unparalleled customer service," commented Emmitte
Haddox, Ergon CEO. "The overlap in our key industries and customer base
makes Resinall a perfect fit for the Ergon organization. Ergon's
existing terminaling, trucking and waterways transport infrastructure,
as well as our technical and operational expertise and support, will
help Resinall achieve even greater success. Our company cultures are
remarkably similar, with utmost importance placed on safety, employees,
technology, quality products, and customer relationships."

Like Ergon, which was started by Leslie Lampton with just two employees
in 1954 and has grown to serve customers in over 90 countries around the
world, Resinall was founded by a visionary who came from humble
beginnings. The family-owned company was established by John M. Godina
in 1981 and has been managed by his wife, his two sons, and an executive
management team since his death in 2012.

"As we considered potential suitors for Resinall, Ergon was by far the
best fit," said Lee Godina, former President of Resinall. "Not only does
Ergon understand what it means to be a manufacturer, but they deeply
value employees and support customers."

"We are excited to welcome Resinall to the Ergon family," Haddox added.
"We look forward to continued growth for both companies in the future."

KeyBanc acted as exclusive sell-side advisor to Resinall on the

About Resinall Corp:

is a manufacturer of thermoplastic resins/polymers used as binders
and/or elastomer modifiers in a wide range of industrial applications
including adhesive, tire, ink, and specialty markets. The company's
manufacturing facilities in Hattiesburg, Mississippi, and Severn, North
Carolina, have a combined annual capacity of approximately 160 million

About Ergon:

is a family-owned company that operates in six business segments:
Refining & Marketing, Asphalt & Emulsions, Transportation & Terminaling,
Oil & Gas, Real Estate, and Corporate & Other. Within Ergon's refining
segment, Ergon Refining, Inc., is the world's largest
producer of specialty naphthenic oils and Ergon - West Virginia,
, is a major manufacturer of Group I and Group II paraffinic
base oils. Product lines include HyGold base oils, HyPrene process oils,
HyVolt insulating oils, and HyPrint ink oils.

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