Materials firm Techmer PM is acquiring color and additive compounder Advanced Color Technologies LLC.
Officials with Techmer in Clinton, Tenn., said that the combined technology and capabilities of the two organizations "will expand Techmer's position as the innovation leader for colorants and additives in the synthetic fibers segment."
The deal is expected to close by Aug. 31. Terms were not disclosed.
Dalton, Ga.-based ACT designs, formulates, and supplies specialty colorant and additive systems. Founder Russ Neuman will be Techmer PM's vice president. Neuman started ACT in 2013 and has more than four decades of industry experience.
"By leveraging the combined experience and technologies of both organizations, we can provide our customers unparalleled support in achieving their product innovation and sustainability goals," Techmer CEO Michael McHenry said in a news release.
Officials added that the acquisition will improve Techmer's customers' experience with added resources in synthetic fibers and other industries with the expansion of sales, marketing, technology, and manufacturing capabilities.
"The industry views Techmer as an innovation leader," Neuman said. Techmer officials added that their firm "continues to be engaged and actively seek strategic investments to grow the business including selective acquisition partners."
Techmer operates U.S. plants in Clinton; Rancho Dominguez, Calif.; Wichita, Kan.; Dalton, Ga.; New Castle, Del.; and Batavia, Ill. It also operates a plant in Querétaro, Mexico, and employs more than 600 worldwide.
Since 2014, Techmer has been named to the Plastics News Best Places to Work list six times, most recently in 2021. The firm is one of North America's 30 largest compounders and concentrate makers, according to PN data.
In September 2022, private equity firm Gryphon Investors of San Francisco bought a majority stake in Techmer. Techmer management and investment firm SK Capital retained minority stakes in the firm.