July 7 2014, David R Brown
New York-based PE firm, CI Capital Partners, acquires North American specialty chemicals distributor, Maroon Inc
An affiliate of New York private equity firm CI Capital Partners (CICP) has acquired a majority interest in North American speciality chemicals distributor, Maroon Inc. Terms of the transaction were not disclosed. Maroon's management team retains a significant equity interest in the company. Post deal the company's name has been changed to Maroon Group LLC.
The company is well-positioned to continue its strong growth, both organically and through selective add-on acquisitions
Joost Thesseling
Managing Director at CI Capital Partners
Founded in 1977, Maroon supplies nearly 900 customers with specialty additives, resins and pigments through a network of 12 distribution centers across North America. The company is focused on the plastics, coatings, composites, rubber and adhesives markets.
“We are honored to complete this transaction and begin our partnership with CI Capital,” said Mark Reichard, President & CEO of Maroon. “CI Capital's resources, extensive experience in the distribution industry and track record of helping businesses like ours grow make them an ideal partner for our organization.”
“Maroon's management team has built an impressive business through their commitment to excellent customer service,” said Joost Thesseling, Managing Director at CI Capital Partners. “We believe the company is well-positioned to continue its strong growth, both organically and through selective add-on acquisitions in the highly fragmented specialty chemical distribution industry.”
About Maroon Group LLC
Maroon Group LLC is a leading specialty chemical distributor based in Avon, Ohio. Maroon supplies specialty additives, resins, pigments and packaging to North American manufacturers. Key suppliers include Buckman Laboratories, Croda International, Evonik, SNCZ and Solvay. Maroon are a NACD responsible distribution verified company.
Source(s): Chemagility