Chroma Color Corp. has acquired Plastics Color Corp. in a deal between two well-known color concentrate makers.
No purchase price was disclosed in a Jan. 31 news release announcing the deal. The transaction includes PCC plants at its headquarters in Calumet City, Ill., and in Asheboro, N.C.
Chroma CEO Tom Bolger said in the release that PCC "has a strong base of customers and is known for solution-based products and strong service, both being pillars of Chroma's offerings."
"Their presence in medical and pharmaceutical products, food packaging, CPG, and construction applications will bring more technologies and know-how to Chroma to allow us to better serve our customers and continue our growth," he added.
Chroma President Howard DeMonte said in the release that the acquisition "further supports our strategy of pursuing sustainable, organic growth by deploying Chroma's proven patented colorant technologies into new markets."
PCC was founded in 1964 as Kamco Plastics, a styrene compounder that produced reprocessed color compounds. By 1989, the firm had changed its name to PCC and was making color and white concentrates as well as other additives. PCC is a unit of PMC Global Inc., an industrial conglomerate based in Sun Valley, Calif.
For McHenry, Ill.-based Chroma, the deal is its second since mid-2018, when investment firm Arsenal Capital Partners of New York combined Chroma with materials firms Carolina Color, Breen Color Concentrates and Breen's Hudson Color unit to create a larger firm. In February 2019, Chroma purchased Polymer Concentrates Inc. of Clinton, Mass.
Chroma makes color concentrates based on a variety of resins for several markets. The firm employs about 400 and has annual sales of more than $160 million.
David Evatz, managing director for Stout Investment Banking, advised Chroma on the deal.