A 93-year-old materials firm has a new owner in industry veteran Andy Ubhi.
In October Ubhi bought Peacock Colors Inc. of Addison, Ill., from owners Cliff Bloom and Greg Cherry. Bloom and Cherry are grandsons of Frank Bloom Sr., who founded the firm as paint and ink maker Rainbow Ink in 1925.
Rainbow Ink changed its name to Peacock Colors in 1962 and entered the plastics market in 1967 when it bought colorants and additives maker Homer Palmer. Peacock began making plastics color concentrates in 1994.
Today, Peacock employs 27 at a 25,000-square-foot site, making color concentrates based on a wide variety of commodity and engineering resins, as well as liquid color, dry color and color beads. The firm has hundreds of customers and can supply material in sizes ranging from a few pounds to truckloads.
Ubhi has more than 20 years of industry experience, including positions with GE Plastics, Asahi Kasei Plastics and Dow Corning/Multibase. Most recently he was with Kraton Polymers before leaving in 2012 to pursue investment opportunities.
"I had done some good things for a few different big companies, but wanted to do something on my own," Ubhi said in a recent phone interview. "Product color is driven by customer [and] OEM specification. Peacock wants to work with customers on new applications to grow their business through color innovation."