One of the country’s top chemical distributors is moving from Ascot Industrial Park in Akron to a larger facility in Twinsburg Township.
HB Chemical Inc., which distributes chemicals primarily to mixers and compounders of rubber, was unable to find a larger building in Akron.
The company, which employs nearly 30 people, paid $3 million for a 115,000-square-foot facility at 1667 Enterprise Parkway in Twinsburg Township.
HB Chemical’s current headquarters/warehouse is in a building less than half that size, one totaling 45,000 square feet, in the Ascot Industrial Park off State Road.
The company’s chief financial officer, Rick Ravine, said HB Chemical had two times honed in on Akron sites, only to have them go to other buyers before an offer could be made.
“There was just a pretty active market for the size site we were looking to go into,” Ravine said.
The Twinsburg Township building was previously occupied by Forest Manufacturing, and had been vacant for some time.
HB Chemical worked with Tom Fox, with NAI Cummins Real Estate in Akron, to find the new location.
Fox said he doesn’t think the current home of HB Chemical will be on the market for very long.
“The market is getting to the point where there are not that many good buildings, and that’s a pretty good building.”
Brent Hendren, Akron city economic development specialist, said Thursday he was unaware that HB Chemical had been looking for a new home. He said city economic development officials can help companies find new locations in the city.
HB Chemical plans to move its employees — including sales people, customer service representatives and warehouse personnel — from Ascot Industrial Park to the Twinsburg Township facility next year.
Ravine said the larger building will allow the company to continue to grow.
“We’re really excited about having more space,” company owner Jeff Rand said Thursday.
HB Chemical was ranked 33rd in a 2012 list of the top 100 North American chemical distributors. ICIS Chemical Business magazine ranked the companies by 2011 sales, reporting that HB Chemical had sales of $109 million that year.
The longtime Akron company Harwick Standard Distribution, with headquarters on Seiberling Street, ranked No. 25 on the list. It was reported to have had sales of $125 million in 2011.
HB Chemical’s name references its founder Hill Browning, who formed the business in 1986 and is now retired.
Last month, Ernst & Young named Rand a finalist for the 2012 Entrepreneur of the Year award in Northeast Ohio.
Michael K. Baach, president and chief executive officer of the Philpott Rubber Co. in Brunswick, also is among finalists with businesses in the Akron-Canton area. Other area finalists are Kimberly Martin and Sarah Forrer, co-owners of Main Street Cupcakes in Hudson; and Drew C. Forhan, founder and chief executive officer of ForTec Medical in Streetsboro.
Award winners will be revealed at an event Thursday in Cleveland.
Katie Byard can be reached at 330-996-3781 or kbyard@thebeaconjournal.com.