Even amid the COVID-19 pandemic, plastics materials firms managed to complete a few M&A deals in the first half of 2020.
Chroma Color Corp. and Ascend Performance Materials each wrapped up a pair of deals in the first six months of the year. McHenry, Ill.-based Chroma first bought fellow color concentrate maker Plastics Color Corp. of Calumet City, Ill., then added compounder and dyemaker Epolin Chemicals LLC of Newark, N.J.
The PCC deal included plants in Calumet City, Ill., and in Asheboro, N.C. The Calumet City plant now has been closed.
Chroma CEO Tom Bolger said 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," he added.
Officials said that Epolin has global leadership in near-infrared absorbing dyes. They added that the deal for Epolic expands Chroma's product offerings in sensors, security inks, eyewear and similar markets.
Epolin will operate as an independent subsidiary of Chroma. The acquisition "will contribute significantly to Chroma Color's leadership in the colorants and additives industry," CEO Tom Bolger said.
Chroma now has made three acquisitions 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.
Houston-based Ascend — a leading maker of nylon 6/6 resins and compounds — completed a pair of international deals in the first half. The firm first acquired Italian materials firms Poliblend and Esseti Plast GD from D'Ottavio Group. The deal included a manufacturing facility in Mozzate, Italy.
Esseti Plast is a producer of masterbatch concentrates. Poliblend makes compounds and concentrates based on virgin and recycled grades of nylon 6 and 6/6, polybutylene terephthalate and acetal.