HEXPOL Acquires the Leading Turkish Thermoplastic Elastomer Compounder Symplast A.Ş.

HEXPOL (publ) acquires 80 percent of the company Symplast A.Ş., headquartered in Izmir, Turkey. The company is a leading Turkish developer and manufacturer of specialised thermoplastic elastomer compounds, with a strong position in custom-made and value-added solutions for the automotive, construction, consumer and electronics industries. The acquisition significantly strengthens HEXPOL’s thermoplastic compounding platform and stretches further the position in the growing Turkish market.

Symplast is being acquired from its four founding shareholders, Selahattin Dülger, Ali Rıza Kır, Yaşar Kurtuluş and Fahri Tolga Sarıkahya. The company was founded in 2013 by a group of experienced plastics specialists and has since developed into the leading Turkish thermoplastic elastomer compounder.

Fahri Tolga Sarıkahya and Ali Rıza Kır will continue to run the company as a subsidiary within the HEXPOL Thermoplastic Compounding business area. Symplast’s manufacturing facility, headquarters and R&D centre are located in İzmir, Turkey. The company also operates a facility for semi-finished materials in Poti, Georgia, and has a sales office in Germany. The Izmir operation has substantial available capacity and room for further expansion within the existing footprint.

Symplast has sales of approximately MEUR 34 and 135 employees. The company has a broad portfolio of engineered thermoplastic elastomers used in applications including automotive weather seals and components, window and door systems, construction membranes, consumer products, cable sheathing and connectors. Symplast has strong in-house R&D and laboratory capabilities, enabling the company to develop tailor-made formulations for specific customer requirements.

“The acquisition of Symplast is another important step in executing the growth strategy for our Thermoplastic Compounding business area. Symplast gives HEXPOL a strong position in Turkey, an attractive and strategically located manufacturing market with a well-developed automotive and construction industry,” says Henrik Elmin, CEO and President of HEXPOL.

“Symplast brings strong formulation and application expertise, modern production capabilities and an entrepreneurial organisation with a clear focus on customer service. The company is highly complementary to our existing thermoplastic operations and provides an attractive platform for continued growth, both in Turkey and in export markets,” concludes Jan Wikström, President of the HEXPOL Thermoplastic Compounding business area.

“We are very pleased to have found a long-term industrial owner that shares our commitment to product quality, technical expertise and close customer relationships,” says Selahattin Dülger, Chairman of the Board and one of the founders of Symplast.

“HEXPOL has demonstrated a deep understanding of our business and a clear ambition to invest in its continued development. Becoming part of HEXPOL will give Symplast access to broader technical capabilities, an international customer base and the resources required to accelerate its growth, while preserving the entrepreneurial culture on which the company has been built,” concludes Selahattin Dülger.

At HEXPOL’s Capital Markets Day in November 2025, the company announced an increased focus on Thermoplastic Compounding as a key growth platform. The acquisition of Symplast further strengthens this platform and adds a strategically important presence in Türkiye, with access to domestic customers as well as export markets in Europe and surrounding regions.

The acquisition price amounts to 54 MEUR on a cash- and debt-free basis and is funded by a combination of bank facilities and cash. HEXPOL has an option to acquire the remaining shares, and the founders have an option to sell their remaining shares to HEXPOL. The acquisition is subject to customary closing conditions, including competition authority approval, and is expected to close no later than during the first quarter of 2027.

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