Middle market private equity firm Huntsman Gay Global Capital has acquired Citadel Plastics Holdings Inc., a West Chicago, Illinois-based maker of specialty compounds for applications in the automotive, health care, electrical, appliance and construction markets, for an undisclosed amount.
Following the investment, the current management team will continue to lead the company and retain an ownership stake in the business. It is designed to support Citadel’s domestic and international growth organically and through strategic acquisitions.
Led by CEO Michael W. Huff, the company owns and operates two primary divisions:
– Bulk Molding Compounds, Inc. (BMCI), a global supplier of high-quality thermoset compounds, also based in West Chicago; and
– The Matrixx Group, Inc., a manufacturer of specialty thermoplastic compounds based in Evansville, Indiana.
Citadel, which was previously owned by Wind Point Partners, currently has more than 600 employees across 14 locations in seven countries.