Maroon Group, a portfolio company of CI Capital Partners, has acquired U.S. Chemicals, a national distributor of specialty chemicals.
Founded in 1960, U.S. Chemicals supplies specialty chemicals that are used in the CASE (coatings, adhesives, sealants, and elastomers), lubricants, and plastics industries. The company was founded in 1960 by Howard Von Oehsen. Today, the company is led by President and CEO Carol Piccaro (the daughter of Mr. Von Oehsen) and is based near Stamford in Darien, CT (www.uschemicals.com). The U.S. Chemicals’ management team will continue to actively manage the business under Maroon Group ownership.
“We’re thrilled to complete this acquisition and welcome U.S. Chemicals to Maroon Group,” said Mark Reichard, President & CEO of Maroon Group. “The opportunity to build on the customer and supplier relationships that U.S. Chemicals has fostered over its history is very important for our organization as we execute our growth strategy. This acquisition significantly broadens our product portfolio, service offerings and customer base. Led by Carol Piccaro, the company has a talented team with a strong track record of growth and outstanding customer service.”
Maroon Group, acquired by CI Capital Partners in July 2014, supplies specialty additives, resins, pigments and packaging to North American manufacturers active in the plastics, coatings, composites, rubber and adhesives markets. The company was founded in 1977 and is headquartered near Cleveland in Avon, OH (www.maroongroupllc.com). Maroon Group’s portfolio of companies include Addipel, CNX Distribution, D.B. Becker, Polyram USA, and U.S. Chemicals.
“U.S. Chemical’s supplier and product portfolio will further strengthen Maroon Group’s position in the specialty chemical distribution market,” said Joost Thesseling, Managing Director at CI Capital. “We are very pleased with the progress that Maroon Group’s management team has made executing its acquisition strategy. Our flexible approach to structuring acquisitions is rapidly establishing Maroon Group as an ‘acquirer of choice’ in the industry.”
CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since its founding in 1993, CI Capital and its portfolio companies have made more than 190 acquisitions representing over $8 billion in enterprise value. The firm is based in New York (www.cicapllc.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-5-16
