Private equity firm HIG Capital is merging pigments suppliers Dominion Colour Corp. and Lansco Colors.
Both Toronto-based Dominion and Lansco of Pearl River, N.Y., sell into the plastics, coatings and specialty ink industries, officials said in an April 9 news release.
"Each of us brings our own complementary strengths," Lansco President and CEO Donald Greenwald said in the release. "By combining to create a broader global pigment provider, we will offer a range of organic and inorganic pigments, dispersions and preparations that will be unmatched in the industry."
Greenwald and the Lansco management team will remain in place after the merger. Lansco was founded in 1926 as Landers-Segal Color Co. The firm serves 600 customers, primarily in the United States.
Greenwald and CEO Mark Vincent will remain minority shareholders in the combined DCC/Lansco. Lansco previously employed a total of 40 at offices in Pearl River and Shanghai and a technical center in Warwick, R.I.
DCC was founded in 1946 and has more than 400 customers in 70 countries. The firm operates plants in Canada, the Netherlands and the United Kingdom, as well as technical sales offices throughout the Americas, Europe and Asia.
Miami-based HIG is majority owner of both DCC and Lansco. It acquired a majority stake in DCC in late 2016. HIG has more than $23 billion of equity capital under management.
HIG's plastics-related holdings also include Valtris Specialty Chemicals of Independence, Ohio. Valtris is the former polymer additives business of Ferro Corp. which HIG bought for $154 million cash in 2014.
HIG also owns Cornerstone Chemical, a producer of melamine thermoset resins and of plastic feedstock acrylonitrile in Waggaman, La., and Plastic Fabricating Co., a maker of plastic composite parts for the aerospace market in Wichita, Kan.
