January 18 2016, David R Brown
US distributor, Maroon Group completes 3rd acquisition in 15 months with the purchase, Texas-based CNX Distribution
Maroon Group LLC announced today that it has acquired CNX Distribution, a Southwest U.S. distributor of specialty chemicals based in Hurst, Texas. CNX’s management team will remain in place and continue to actively manage the business. Terms of the transaction were not disclosed.
We're elated to complete this acquisition as we continue to implement our multi-tiered growth strategy
Mark Reichard
President & CEO of Maroon Group
Founded in 2006, CNX Distribution supplies additives, pigments, and resins to the paint & coatings, ink, plastics, rubber, sealants & adhesives, elastomers, oil & gas, and miscellaneous chemical processing industries.
“We're elated to complete this acquisition as we continue to implement our multi-tiered growth strategy,” Mark Reichard, President & CEO of Maroon Group, said. “CNX Distribution is our third acquisition in 15 months and provides an anchor for us in this strategic region of the country. The company has a tremendous team led by Jay and Bill as well as a fantastic record of growth. We look forward to leveraging each company’s portfolio of products for further expansion.”
“Maroon Group's culture and focus on exceptional service is a great fit with CNX,” comments Jay McHugh, CNX's President. Bill Ward, CNX's Vice President, adds, “We look forward to being part of a rapidly growing organization with enhanced resources available to support our employees, customers, and principal partners.”
About Maroon Group LLC
Founded in 1977, Maroon Group LLC is a leading specialty chemical distributor based in Avon, Ohio. Maroon supplies specialty additives, resins and pigments to North American manufacturers focused on plastics, coatings, composites, graphic arts, rubber and adhesives markets. The Maroon Group is owned by Maroon Group management and CI Capital Partners, a New York-based private equity firm. Maroon are a NACD responsible distribution verified company.
Source(s): Maroon Group Press Release