Distribution firm Maroon Group LLC has made another deal, this time buying specialty chemicals distributor U.S. Chemicals LLC of Darien, Conn.
No purchase price was disclosed in a May 2 news release announcing the deal with Carol Piccaro, U.S. Chemicals' president who was also the sole owner. U.S. Chemicals was founded in 1960. The firm sells and distributes several plastic feedstocks — including styrene monomer — as well as epoxy resins.
U.S. Chemicals' existing management team — including Piccaro — will remain in place, officials with Avon, Ohio-based Maroon said in the release.
“The opportunity to build on the customer and supplier relationships that U.S. Chemicals has fostered over its history is very important for our organization as we execute our growth strategy,” Maroon president and CEO Mark Reichard said.
“This acquisition significantly broadens our product portfolio, service offerings and customer base,” he added.
The acquisition is the fourth in 20 months for Maroon. Most recently, the firm in January bought specialty chemicals distributor CNX Distribution of Hurst, Texas.
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.
Maroon's product list includes additives and pigments for plastics and many other markets. In the release, company officials added that the firm “continues to aggressively explore opportunities to partner with proven entrepreneurs that have built sustainable, successful companies.”