Specialty chemicals distributor Maroon Group LLC of Avon, Ohio, said it has acquired Cadence Chemical of Stamford, Conn.
Terms of the transaction were not disclosed. Maroon Group said in a news release that the management team of Cadence Chemical, led by president John Wilson, "will remain in place and continue to actively manage the business."
A Maroon Group official said in an email that the company would not disclose the number of employees and revenues at either Maroon Group or Cadence Chemical.
Cadence Chemical, founded in 2004, supplies specialty intermediates for the coatings, adhesives, chemical processing, water treatment and associated industries.
In the news release, Maroon Group said the deal "transaction marks another example of a successful entrepreneur joining the Maroon team whose experience and market insight will be instrumental in executing Maroon's strategy going forward."
Mark E. Reichard, president and CEO of Maroon Group, said in a statement that Wilson and management at Cadence Chemical "have built an impressive company that shares a similar business model and values as Maroon. We will be making further investments in the organization to accelerate their growth and look forward to building upon Cadence's historical success."
He said the specialty intermediates segment, serviced by both Cadence and U.S. Chemicals, "is an important part of our business and the combination provides a compelling product and service offering to our customers."
This is the third acquisition of 2016 for Maroon Group.
In January, it bought Hurst, Texas-based CNX Distribution for an undisclosed amount. Maroon Group in May acquired Darien, Conn.-based U.S. Chemicals.
