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Arsenal Capital's Chromaflo buys colorant line

By: Frank Esposito

December 17, 2012

ASHTABULA, OHIO (Dec. 17, 4:10 p.m. ET) — Arsenal Capital Partners is ending 2012 the way it began: By opening its checkbook and buying a plastics-related business.

The New York-based private equity firm recently made its fifth plastics-related deal of the year, this time buying the Tint-Ayd brand line of alkyd polyester-based colorants from Elementis Specialties Inc. of London. No purchase price was disclosed.

Tint-Ayd colorants are sold in Europe, the Middle East and Africa. They are primarily used in decorative paints and coatings. Arsenal made the deal through Chromaflo Technologies Corp., the business it created earlier this year by merging Plasticolors Inc. and the Colortrend business of Evonik Industries AG — both of which Arsenal had acquired in 2012. Chromaflo is based in Ashtabula, Ohio.

Arsenal closed the deal for Tint-Ayd on Dec. 13. In a Dec. 13 news release, Chromaflo President and CEO Scott Becker said that the acquisition “is consistent with our efforts in supplying colorants for high-performance industrial coatings and architectural paints in the European markets.”

Acquiring Tint-Ayd “is the first acquisition of several we hope to make to extend the reach” of Chromaflo,” Arsenal partner John Televantos said in the release.

In addition to the two acquisitions that created Chromaflo, Arsenal in 2012 acquired plastics barrier treatment maker Fluoro-Seal Holdings LLC and Clifton Adhesives, a supplier of thermoplastics and elastomeric adhesives and coatings.