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American Securities LLC, Arsenal Capital Partners, and Nordic Capital Fund VI today announced that American Securities has partnered with management and signed a definitive agreement to acquire Chromaflo Technologies Corp, a leading producer of proprietary, high-performance colourants and chemical dispersions, from Arsenal Capital Partners and Nordic Capital. The transaction is expected to close in November 2016 and is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.
Headquartered in Ashtabula, Ohio, Chromaflo is a leading independent global supplier of colourant systems, chemical and pigment dispersions. With more than eight decades of industry experience in colourant systems and chemical pigment dispersions, the company’s family of brands includes more than 200 product lines and 7000 products, serving customers across six continents.
Scott Becker, President and CEO of Chromaflo, said: "We look forward to partnering with American Securities.They are ideally positioned to support our next phase of growth and development as we look to expand our product offerings, geographies, and market reach. American Securities has significant experience in the specialty chemical sector and a broad and experienced team, which will aid in our expansion. We look forward to working with them as we continue to focus on providing highly technical colorant and chemical solutions to our customers and markets.”
Scott M Wolff, a Managing Director of American Securities, commented: "We believe that Chromaflo’s commitment to product innovation, combined with its experienced and customer-focused management team, positions the Company for continued growth. We look forward to bringing our resources to bear to support Scott Becker and the rest of Chromaflo’s management team toward continued success.”
John Televantos, a Partner who co-heads Arsenal’s Specialty Industrials practice, said: "Through its organic growth and strategic acquisitions, Chromaflo has become the leading global innovator and supplier of colorants and chemical dispersions with broad technologies serving the coatings and thermoset plastics markets.”
Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds, added: "Nordic Capital Fund VI is proud of the transformation of Chromaflo into a leading global player and has been very pleased with the partnership with Scott Becker and his management team for executing the Company’s growth and acquisition strategy.”