H.I.G. Capital has acquired Dominion Colour, a provider of inorganic and organic pigments used in the coatings, plastics and specialty ink industries.
According to Dominion Colour (DCC), the company has one of the broadest product lines in the industry and is one of the leading makers of bismuth yellow and orange pigments, high performance and specialty organic pigments, chrome yellow and orange pigments, hybrid pigments, water and solvent based dispersions, and lead free alternatives. The company was founded in 1946 and is headquartered in Toronto with manufacturing facilities in Canada, the Netherlands, and the UK. DCC has approximately 300 employees (www.dominioncolour.com).
“We are pleased to be partnering with the DCC team. The company has been a leader in designing, developing and manufacturing new and innovative color pigments for more than 70 years,” said Keval Patel, Managing Director at H.I.G. Capital. “We plan to work with the team to further expand the product portfolio both organically and through acquisitions.”
With the close of the transaction, CEO Michael Klein and CFO Jack Nelligan will transition their day-to-day management duties to Mark Vincent, the current EVP, who becomes the company’s new CEO. Messrs. Klein and Nelligan will be minority shareholders in the company. “While we already have a very strong core business and a bright future, H.I.G.’s investment provides us with the resources and strategic vision to accelerate our growth initiatives, including investments in product development and expansion of our geographic footprint,” said Mr. Vincent.
H.I.G. specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. has more than $20 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
© 2016 Private Equity Professional • 10-14-16
