OCTOBER 05 2016
American Securities LLC, Arsenal Capital Partners, and Nordic Capital Fund VI today announced that American Securities has partnered with management and signed a definitive agreement to acquire Chromaflo Technologies Corp. ("Chromaflo" or the "Company"), a leading producer of proprietary, high-performance colorants and chemical dispersions, from Arsenal Capital Partners and Nordic Capital. The transaction is expected to close in November 2016 and is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.
Headquartered in Ashtabula, Ohio, Chromaflo is a leading independent global supplier of colorant systems, chemical and pigment dispersions. With more than eight decades of industry experience in colorant systems and chemical pigment dispersions, the Company's family of brands includes more than 200 product lines and 7,000 products, serving customers across six continents.
Scott Becker, President and CEO of Chromaflo, said, "We look forward to partnering with American Securities. They are ideally positioned to support our next phase of growth and development as we look to expand our product offerings, geographies, and market reach. American Securities has significant experience in the specialty chemical sector and a broad and experienced team, which will aid in our expansion. We look forward to working with them as we continue to focus on providing highly technical colorant and chemical solutions to our customers and markets."
Scott M. Wolff, a Managing Director of American Securities, commented, "We believe that Chromaflo's commitment to product innovation, combined with its experienced and customer-focused management team, positions the Company for continued growth. We look forward to bringing our resources to bear to support Scott Becker and the rest of Chromaflo's management team toward continued success."
John Televantos, a Partner who co-heads Arsenal's Specialty Industrials practice, said, "Through its organic growth and strategic acquisitions, Chromaflo has become the leading global innovator and supplier of colorants and chemical dispersions with broad technologies serving the coatings and thermoset plastics markets."
Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds, added, "Nordic Capital Fund VI is proud of the transformation of Chromaflo into a leading global player and has been very pleased with the partnership with Scott Becker and his management team for executing the Company's growth and acquisition strategy."
About Chromaflo Technologies
Chromaflo Technologies is a leading independent global supplier of
colorant systems, chemical and pigment dispersions, serving
customers in architectural and industrial coatings as well as the
thermoset composites market. Headquartered in Ashtabula, Ohio,
U.S., Chromaflo has production facilities in the U.S., Canada, The
Netherlands, Finland, Australia, China and South Africa. Sales and
technical support is also provided throughout North and South
America, Europe, Australia, China, India and Southeast Asia.
Commitment to excellence is driven by three core values: quality,
speed and service.
Discover more at www.chromaflo.com.
About American Securities LLC
Based in New York with an office in Shanghai, American Securities
is a leading U.S. private equity firm that invests in
market-leading North American companies with annual revenues
generally ranging from $200
million to $2 billion and/or $50 million to $200 million of
EBITDA. American Securities and its affiliates have approximately
$15 billion under management.
www.american-securities.com
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private
equity firm that invests in middle market specialty industrial and
healthcare companies. Arsenal makes investments in sectors where
the firm has significant prior knowledge and experience. Arsenal
targets businesses that have the potential for further value
creation, and works closely with management to accelerate growth by
leveraging the firm's industry focus and operational improvement
capabilities. Arsenal currently manages $2.9 billion of committed
equity capital. For additional information on Arsenal Capital
Partners, please visit www.arsenalcapital.com.
About Nordic Capital
Nordic Capital private equity funds have invested in mid-market
companies primarily in the Nordic region since 1989. Through
committed ownership and by targeting strategic development and
operational improvements, Nordic Capital enables value creation in
its investments. Nordic Capital Funds invest in companies in
northern Europe and in selected investment opportunities
internationally. Nordic Capital currently has EUR 10.5 bn in assets
under management. The most recent fund is Nordic Capital Fund VIII
with EUR 3.5 billion in committed capital, principally provided by
international institutional investors such as pension funds. Nordic
Capital Funds are based in Jersey, Channel Islands, and are advised
by the NC Advisory companies in Sweden, Denmark, Finland, Norway,
Germany and the UK. For further information about Nordic Capital
please see www.nordiccapital.com.
Contact Information
For Chromaflo Technologies, please contact:
Scott Becker
President and Chief Executive Officer
+1-440-536-9696
sbecker@chromaflo.com
For American Securities, please contact:
Amy Harsch
+1-212-476-8071
aharsch@american-securities.com
For Arsenal Capital Partners, please
contact:
Chris Tofalli
Chris Tofalli Public Relations, LLC
+1-914-834-4334
chris@tofallipr.com
For Nordic Capital, please contact:
Katarina Janerud, Communication Manager
NC Advisory AB, advisor to the Nordic Capital Funds
+46 8 440 50 50
katarina.janerud@nordiccapital.com