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

Image

Sony entering recycled PC market

August 27, 2014 11:08 am ET

Consumer electronics giant Sony Corp. is getting into a sideline of selling recycled resins.    More

Image

Nova expanding PE research center

August 26, 2014 1:36 pm ET

Nova Chemicals Corp. has broken ground on an expansion of its polyethylene research center in Calgary, Alberta.    More

Image

Sinopec licenses PP technology to USA, posts half-year results

August 26, 2014 11:46 am ET

China's state-owned petrochemical giant Sinopec Corp. said it is licensing polypropylene polymerization technology to a U.S. plant for the first time ...    More

Image

Japan's DIC planning PPS compounding plant in China

August 25, 2014 1:28 pm ET

Japanese materials firm DIC Corp. plans to open its first polyphenylene sulfide (PPS) compounding plant in China by the end of 2015.    More

Image

China's PVC exports face challenges

August 22, 2014 2:14 pm ET

Despite robust growth in the first half of the year, China's PVC exports now faces new challenges, due to trade barriers and new capacity ramping up i...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events