Distribution firm Maroon Group LLC has continued its buying spree by acquiring specialty chemicals distributor CNX Distribution of Hurst, Texas.
No purchase price was disclosed in a Jan. 18 news release announcing the deal. Avon, Ohio-based Maroon is buying CNX from President Jay McHugh and Vice President Bill Ward.
Materials distributed by CNX, which opened in 2006, include additives and pigments used in plastic applications, as well as polyurethane and polyol resins. The firm operates an office in Hurst — which is in the Dallas area — and uses public warehousing nationwide.
“We're elated to complete this acquisition as we continue to implement our multi-tiered growth strategy,” Maroon President and CEO Mark Reichard said.
The purchase is the third in 15 months for Maroon, whose product list includes additives and pigments for plastics and many other markets. In August, the 39-year-old firm bought specialty chemicals distributor D.B. Becker Co. Inc. of Clinton, N.J. Becker's products include raw materials for plastics, paints and coatings.
The Becker deal followed Marron's October 2014 purchase of Addipel LLC, a custom blender of plastic resins, compounds and concentrates — as well as rubber and composites — in neighboring Avon Lake, Ohio. No purchase price was disclosed in the Becker or Addipel deal.
Maroon has been on the hunt for acquisitions since being acquired by New York-based private equity firm CI Capital Partners LLC in June 2014. CI's other plastic-related holdings include packaging maker IntraPac Group of Mississauga, Ontario.
In the Jan. 18 release, Maroon officials added that the firm “continues to aggressively explore opportunities to partner with proven entrepreneurs that have built sustainable, successful companies.”