Private equity firm Arsenal Capital Partners has acquired both Plasticolors, Inc. and Evonik Industries’ Colortrend global colorants business. The firm will combine the businesses to create Chromaflo Technologies. According to Arenal, the new business entity will be the largest independent global pigment dispersion platform.
“We partnered with the Plasticolors team led by CEO Scott Becker to bring together these two complementary players in the colorants industry,” said Timothy Zappala, a partner at Arsenal and co-head of the firm’s Specialty Industrials group. “The combination creates a leading independent global pigment dispersion platform positioning the new company to address the increasingly complex customer technical requirements in a multitude of applications and end markets.”
Chromaflo Technologies will be headquartered in Ashtabula, Ohio and will have production facilities in the U.S., Canada, The Netherlands, and Australia. The new entity also has sales and technical capabilities throughout North and South America, Europe, Australia, China, Malaysia, and India.