Middle-market buyout shop Huntsman Gay Global Capital has acquired Citadel Plastics Holdings Inc., a maker of specialty compounds for applications in the automotive, health care, electrical, appliance and construction markets. Citadel is based in West Chicago, Illinois. Terms of the acquisition were not released.
PRESS RELEASE
Huntsman Gay Global Capital, a leading middle market private equity firm, today announced that it has acquired Citadel Plastics Holdings, Inc., a leading global plastics composites company that produces specialty compounds for applications in the automotive, health care, electrical, appliance, and construction markets. Citadel’s current management team will continue to lead the company and retain an ownership stake in the business. Terms of the private transaction were not disclosed.
Headquartered in West Chicago, Illinois, Citadel Plastics owns and operates two primary divisions: Bulk Molding Compounds, Inc. (BMCI), the largest global supplier of high-quality thermoset compounds, also based in West Chicago; and The Matrixx Group, Inc., a manufacturer of specialty thermoplastic compounds based in Evansville, Indiana. Citadel’s global workforce numbers more than 600 employees across 14 locations in seven countries. The company was previously owned by Wind Point Partners.
“Huntsman Gay’s heritage and experience in the chemical and plastics industry, combined with their global relationships, distinguished them as our preferred partner,” said Michael W. Huff, Chief Executive Officer of Citadel. “We are confident this relationship will enhance our ability to meet the needs of our customers and suppliers.”
“We’ve been looking at chemical businesses for some time, and Citadel Plastics presented the perfect opportunity,” said Gary Crittenden, Managing Director of Huntsman Gay Global Capital. “We really like Citadel’s focus on highly-engineered, custom compounds, and we have the utmost admiration for Mike Huff and the rest of the senior management team. We look forward to supporting Citadel’s domestic and international growth through a variety of avenues, including strategic acquisitions.”
About Citadel Plastics Holdings, Inc.
Citadel is a leading global compounder of thermoset and thermoplastic resins. Its two primary divisions are BMCI, the world’s largest supplier of bulk molding materials and The Matrixx Group, a leading thermoplastic compounder. Citadel has a combined workforce of more than 600 employees across 14 facilities in seven countries. Additional information is available at www.citadelplastics.com.
About Huntsman Gay Global Capital
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market—offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world’s leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments.
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