Plastics group A. Schulman (Nasdaq: SHLM) is buying Citadel Plastics from private equity firms HGGC and Charlesbank Capital Partners for $800 million.

Citadel, headquartered in West Chicago, Illinois, provides thermoplastic and engineered composite compounds. The business has 21 production facilities in North America, Europe, Asia and Latin America and provides products to the transportation, industrial, construction, consumer, electrical, energy, health care and safety markets. The company is led by HGGC's Gary Crittenden as chairman. 

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