Arsenal Jumps Into Color Concentrates

Arsenal Jumps Into Color Concentrates

Arsenal Capital Partners has completed the acquisitions of Carolina Color Corporation and Breen Color Concentrates in partnership with the management teams of each company.

Now under common ownership, the combination of Breen and Carolina Color creates, according to Arsenal, a leading specialty color and additive concentrate supplier in the plastics market. The combined business has five manufacturing facilities throughout the US.

Carolina Color is a supplier of color concentrates that are used in the plastics industry for products that are sold into a wide variety of end markets. The company, founded in 1967, is family-owned and is based near Charlotte in Salisbury, NC (

Breen, a portfolio company of Norwalk, CT-based Capital Partners since February 2014, is also a supplier of color concentrates for the plastics industry with a focus on the wire & cable, packaging, and consumer end markets. The company is based in Lambertville, NJ (

“I am excited about our new partnership with Arsenal and believe they are uniquely positioned to support our next phase of growth and development,” said Matt Barr, Vice Chairman of Carolina Color. “Arsenal has significant experience in the specialty chemical and plastics sectors, as well as a highly knowledgeable team that will help Carolina Color and Breen grow.”

Arsenal invests in middle-market specialty industrial and healthcare companies that have $100 million to $500 million in enterprise value.  Industries of specific interest include specialty industrials and healthcare companies. The firm was founded in 2000 and has offices in New York and Shanghai (

“We are excited to be partnering with great leadership teams that have a long history of delivering continued innovation and sustained growth. This combination represents the next phase of growth for both businesses and is an important milestone in our strategy to build a leading color concentrate business offering customized and proprietary solutions,” said Tim Zappala, a Partner of Arsenal. “We look forward to continue their track records of growth through both organic initiatives, as well as building through strategic acquisitions to further expand the platform’s product and service offering.”

“The combination of Breen and Carolina Color is a perfect fit of two players in the color concentrate space,” said Howard DeMonte, President of Breen. “This combination brings together complementary manufacturing capabilities, broadens our base of technologies, and expands our market reach.”

“Both Carolina Color and Breen are customer-centric organizations, dedicated to providing the highest levels of service and technology,” said Joe Rooney, a Principal of Arsenal. “The combination will have a number of strengths to draw upon as we create a premier platform in the color concentrate space through continued investment in growth and acquisitions.”

Chicago-based Twin Brook Capital Partners ( was the joint lead arranger and administrative agent for the senior credit facilities that supported Arsenal’s buy of Breen and Carolina Color.

© 2017 Private Equity Professional | October 31, 2017

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