Chromaflo Technologies of Ashtabula, Oh., an Arsenal Capital-backed company that sells colorants and chemicals for the paint, coatings, and thermoset plastics industries, has acquired Elementis B.V. for an undisclosed amount. Elementis sells a line of colorant products in Europe, the Middle East, and Africa.
Chromaflo Technologies Corp., the largest independent global supplier of advanced colorants and chemical dispersions for the paint, coatings and thermoset plastics industries concluded a purchase agreement with Elementis B.V. whereby Chromaflo Technologies B.V. has acquired the Elementis Tint-Ayd® line of colorant products that are sold in Europe, the Middle East and Africa. The acquisition of products became effective December 13, 2012. The purchase price was not disclosed.
“The acquisition of these products from Elementis B.V. is consistent with our efforts in supplying quality colorants for high performance industrial coatings and architectural paints in the European markets,” said Scott Becker, President and CEO of Chromaflo Technologies Corp. “The Tint-Ayd® line of colorant products in Europe fit well with our existing lines, increasing customers’ options in support of these industries.”
Production of the acquired products will be moved from Elementis B.V. located in Delden, Netherlands to Chromaflo Technologies’ facility in Maastricht, Netherlands.
“This acquisition is important to us and we plan to make this a smooth transition for customers,” said Holger Spieckermann, Managing Director Chromaflo Technologies B.V. “Quality products, speed of delivery, and support will be the level of service we will deliver to our new customers.”
“We are committed to support Chromaflo Technologies’ expansion of its products and services to serve the global coatings market. This is the first acquisition of several we hope to make to extend the reach of the company,” said John Televantos, a Partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group.
Chromaflo Technologies Corp. is the combination of the former Plasticolors Inc. and the Colortrend colorants business. Our diverse technical and custom manufacturing capabilities provide color solutions to meet the most complex requirements for the Coatings and Thermoset Plastics markets. Chromaflo Technologies Corp. is headquartered in Ashtabula, OH, and has production facilities in the United States, Canada, The Netherlands and Australia. Sales and technical capabilities are provided throughout North and South America, Europe, Australia, China, and Malaysia. Chromaflo Technologies is certified for ISO 9001, ISO 14001 and holds certifications for ISO/TS-16949 in North America and OHSAS-18001 in Europe and Asia.
For information, please call Chromaflo Technologies at (440) 997-5137 or visit the Chromaflo Technologies homepage at www.chromaflo.com.
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant expertise and experience. Arsenal targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has over $1.4 billion of committed equity capital. For additional information on Arsenal Capital Partners please visit www.arsenalcapital.com.