New York-based private equity firm Arsenal Capital Partners, has acquired Plasticolors, Inc. and Evonik Industries’ Colortrend global colorants business to create Chromaflo Technologies, an independent global pigment dispersion platform.
Founded in 1970 and headquartered in Ashtabula, Ohio, Plasticolors, Inc. is a supplier of pigment and chemical dispersions to the thermoset composites and industrial paint and coatings industries. Its colorants can be found in a wide variety of products including industrial coatings, interior and exterior automotive components, epoxy flooring, electrical and appliance housings and a myriad of other paints, coatings, and molded composite applications.
Earlier in March, Arsenal Capital announced the (pending) acquisition of Evonik Industries’ Colortrend global colorants business.
Led by CEO Scott Becker, the new company will be headquartered in Ashtabula, Ohio, with production facilities in the U.S., Canada, The Netherlands, and Australia. It also has sales and technical capabilities throughout North and South America, Europe, Australia, China, Malaysia, and India.