Maroon Group LLC, which is backed by CI Capital Partners, said May 4 that it acquired U.S. Chemicals. Financial terms weren’t announced. Darien, Connecticut-based U.S. Chemicals supplies specialty chemicals for the CASE (coatings, adhesives, sealants, elastomers), lubricants, plastics, and associated industries.
AVON, Ohio and NEW YORK, May 4, 2016 /PRNewswire/ — Maroon Group LLC announced today that it has acquired U.S. Chemicals, a national distributor of specialty chemicals based in Darien, Connecticut. U.S. Chemicals’ management team will continue to actively manage the business. Maroon Group is owned by Maroon Group management and affiliates of CI Capital Partners, a New York-based private equity firm. Terms of the transaction were not disclosed.
Founded in 1960, U.S. Chemicals supplies specialty chemicals for the CASE (coatings, adhesives, sealants, elastomers), lubricants, plastics, and associated industries. U.S. Chemicals has a proven record of strong supplier and customer relationships due to its dedicated employees, excellent service and entrepreneurial vision.
“We’re thrilled to complete this acquisition and welcome U.S. Chemicals to Maroon Group,” said Mark E. 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 byCarol Piccaro, the company has a talented team with a strong track record of growth and outstanding customer service.”
“Maroon Group’s culture, values and business model are a great fit with U.S. Chemicals,” comments Carol Piccaro, U.S. Chemicals President. She added, “We look forward to building on Maroon Group’s infrastructure and resources while maintaining the local sales and service offerings to which our customers and suppliers are accustomed. This is an important step for U.S. Chemicals and we look forward to carrying on the legacy of our company.”
“U.S. Chemical’s substantial 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.”
About Maroon Group
Maroon Group (www.maroongroupllc.com) is one of the fastest growing specialty chemical distributors in North America. Based in Avon, Ohio, Maroon has thrived on creating success for customers by forming partnerships with world-class manufacturers and supplying consistent products on time. Customers have come to rely on Maroon’s technical sales team, exceptional customer service, and global sourcing capabilities. Maroon Group’s portfolio of companies include Addipel, CNX Distribution, D.B. Becker, Polyram USA, and U.S. Chemicals. The company continues to aggressively explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, successful companies.
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity firm with $1.9 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, CI Capital and its portfolio companies have made over 190 acquisitions representing approximately $8 billion in enterprise value. CI Capital’s existing portfolio consists of companies that collectively generate annual revenue of over $2.5 billion and annual EBITDA of approximately $300 million and employ over 9,000 people.