A Chroma Color Corp. LLC unit has acquired a producer of near-infrared (NIR) and laser-absorbing dyes.
Chroma's Epolin LLC division announced Aug. 3 it has purchased Adam, Gates & Co. LLC of Hillsborough, N.J. The latter's dyes are used in laser imaging, security inks, heat-shield glazing, protective eyewear and plastic welding.
"This action aligns with Chroma Color Corp.'s strategy to grow and scale through acquisition," Shruti Singhal, who was named Chroma CEO last month to replace longtime leader Tom Bolger, said in a news release. Bolger retired after 16 years with the company.
Chroma, part of New York investment firm Arsenal Capital Partners' portfolio, supplies specialty color and additive concentrates. Its markets include health care, consumer products, packaging, wire, cable and pharmaceuticals.
The Adam, Gates & Co. purchase is one of eight Chroma has made over the past three years, since Arsenal combined Chroma with Carolina Color, Breen Color Concentrates and Breen's Hudson Color unit.
In January 2020, Chroma purchased color concentrates maker Plastics Color Corp. of Calumet City, Ill. In June of this year, Chroma bought another color concentrates maker, Color Resource LLC of Leominster, Mass.
Epolin of Newark, N.J., was itself one of Chroma's purchases, in June 2020. Epolin develops and makes NIR-absorbing dyes and thermoplastic compounds, as well as ready-to-mold compounded pellets in a range of materials.
Genesis Capital LLC of Los Angeles served as Epolin's financial adviser for the Adam, Gates acquisition.