Updated — Dunleary Inc. has acquired specialty chemicals distributors D.N. Lukens Inc. and D&F Distributing Inc. All three firms do work in plastic additives and specialty resins.
In a July 12 news release, officials with Baltimore-based Dunleary said the combined firms “will be one cohesive enterprise, employing the best practices of each brand.” No purchase prices were included in the release. The deal is expected to close by the end of August.
“This move enables us to collectively meet and exceed the demands of our key business partners with even greater innovation, imagination, and expertise,” Dunleary CEO David Behan said in the release. “The best specialty chemical distributors in America have always been the small family enterprises and entrepreneurs that live and work in the same ecosystem as their customers and their families.
“This has been true of our companies, and we are all committed to this heritage,” he added.
The three companies serve many chemicals markets, including coatings, adhesives, sealants, elastomers, food, personal care, cosmetics and graphic arts. They cover a combined 28 states and employ almost 30 technical sales reps.
Dunleary, founded in 1949, has 15 suppliers including Arkema and Trinseo. Its distribution products include epoxies, nylon powders, polyurethane disperisons and pigments.
Westboro, Mass.-based D.N. Lukens was founded by its namesake in 1943. Its distribution products include epoxies, copolyesters and modifiers. The firm's signature product is its patented Atomite-brand ultra-pure white pigment.
Dallas-based D&F was founded in 1975. Its distribution products include epoxies, phenolics, styrenics block copolymers, colorants and pigments from such suppliers as Hexion Inc. and Ferro Corp.
Dirk Plas will join the expanded firm as vice president of principal relationships and development after 14 years as president and CEO of specialty chemicals firm BYK USA. Other executives will include Chief Operating Officer John Lukens, President William Chestnutt, Executive Vice President Julia Williams, Vice President of Sales Jeff Palumbo and Chief Technology Officer Steve Hightower.
In an email to Plastics News, Behan said that Dunleary would share sales data and purchase prices for the two deals at a later date. He added that the additions would make Dunleary one of the 10 largest specialty chemicals distributors in the United States, and that companies in that top 10 "most likely" have annual sales of more than $70 million.
The combined firm would have almost 60 employees. Both Lukens and D&F are employee-owned through ESOPs.
"We are all more or less very similar in the companies we represent and how we go to market," Behan said. "All three of us are specialty chemical distributors that cover the same markets almost uniformly, save for oil and gas which is unique to D&F."