Harrington Industrial Plastics buys distributor Aetna Plastics

In a deal that involves two U.S. plastics distributors, Harrington Industrial Plastics has acquired Aetna Plastics in partnership with Aetna management.

The financial terms of the deal have not been disclosed.

Headquartered in Valley View, Ohio, Aetna was founded 75 years ago by plastics pioneer Paul Davis. Davis’ son Gary became president of the company in 1975.

Aetna Plastics makes and distributes industrial plastics used in manufacturing, water and waste treatment, glazing and construction, aerospace and defense, and chemical processing.

“The combination of Aetna’s capabilities with Harrington’s national reach is a powerful one. This merger is great for customers and for employees and offers us the chance to partner with a market leader and really focus on growing our business,” Gary Davis said in a July 23 statement.

Davis will be joining Harrington, the statement added.

Harrington Industrial Plastics is owned by Nautic Partners, a Providence, R.I.-based middle-market private equity firm that acquired the company in March of 2020.

Based in Chino, Calif., Harrington has been a distributor of industrial products for corrosive and high purity applications since 1959.

“Aetna’s market leading position in fabrication combined with Harrington’s national reach offers tremendous nationwide growth potential for our two companies,” said Harrington president David Abercrombie in the statement. “Aetna’s local strength in industrial plastics and process piping systems will add significantly to our regional capabilities…[and] coming on the heels of our $2.5 million investment to establish a distribution center in Fort Wayne, Indiana, this investment speaks volumes of our belief in the region, its people, and its potential.”