Colorants deal creating $400 million firm

By Frank Esposito
Senior Staff Reporter

Published: December 3, 2013 3:53 pm ET
Updated: December 4, 2013 5:17 pm ET

Image By: Chromaflo Scott Becker, CEO of Ashtabula, Ohio-based Chromaflo

Related to this story

Topics Materials, Materials Suppliers

Less than two years after its own formation, Chromaflo Technologies is merging with CPS Color BV's colorants business to create a global color and pigment dispersion firm with annual sales of more than $400 million.

The combination "is a perfect fit of two players in different segments of the colorants industry," Scott Becker, CEO of Ashtabula, Ohio-based Chromaflo, said in a Dec. 3 news release.

CPS Color's contributions to the new Chromaflo include more than $100 million in annual sales, about 250 employees and plants in Finland, the Netherlands and China.

The two firms previously had competed somewhat in architectural markets, officials said.

The combined business will operate under the Chromaflo name and will be majority owned by Arsenal Capital Partners, the New York-based private equity firm that created Chromaflo by combining Plasticolors Inc. and the Colortrend unit of Evonik Industries AG in May 2012.

Arsenal then added to Chromaflo by acquiring the Tint-Ayd brand line of colorants from Elementis Specialties Inc. in December 2012.

CPS Color BV owner Nordic Capital Fund VI of Stockholm, Sweden, will be a minority shareholder in Chromaflo. Nordic had formed CPS Color from two similar companies in 2008.

The new Chromaflo merger does not include CPS Color's equipment business, which makes dispensers, mixers and shakers. That business now will operate under Nordic ownership as COROB, a separate firm with annual sales of about $100 million.

The newly expanded Chromaflo will operate plants North America, Europe, China and Australia. The firm makes chemical and pigment dispersions for thermoset plastics and composites and numerous other markets.


Comments

Colorants deal creating $400 million firm

By Frank Esposito
Senior Staff Reporter

Published: December 3, 2013 3:53 pm ET
Updated: December 4, 2013 5:17 pm ET

Post Your Comments


Back to story


More stories

Two Eastman buildings among 10 biggest energy savers in national contest

April 22, 2014 11:35 am ET

Two offices at the headquarters of Eastman Chemical Co. in Kingsport, Tenn., ranked in the Top 10 for energy efficiency in the latest Energy Star...    More

Image

Material Insights: Shell Chemical meets with residents

April 21, 2014 2:16 pm ET

Power outage at a PE plant and the return of a PVC feedstock plant after a fire on this week's Material Insights.    More

DuPont: Asia's food packaging market at a major transition point

April 21, 2014 1:26 pm ET

DuPont Co. touted its packaging innovations and applications, and updated the firm's commercial status at a media event two days before the Chinaplas ...    More

Officials warn China's PVC overcapacity will only get worse

April 21, 2014 3:47 pm ET

Despite worsening overcapacity, China still imports a million tons of PVC.    More

Chinese coal mining company Jinhui launches bioplastic factory

April 21, 2014 10:18 am ET

Chinese coal mining company Shanxi Jinhui Energy Group Co. Ltd. is diversifying into bioplastics, launching production this month on a $35 million, 20...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events