Maroon Group has purchased ingredients supplier Seidler Chemcial. The buyer is backed by private equity firm CI Capital.

Seidler, based in Newark, New Jersey, distributes chemicals including acids, oils and sulfates. The target serves the food and beverage, personal care and pharmaceutical sectors.

"This acquisition expands our value-add service offering and builds additional scale in attractive end markets. We are seeking additional strategic add-on acquisitions to complement Maroon Group's business," says Maroon Group CEO Mark Recihard. The Seidler deal is Maroon Group's seventh add-on under CI Capital's ownership. Some other purchases include Cadence Chemical, Lincoln Fine Ingredients and U.S. Chemicals.

Founded in 1977, Maroon Group is an Avon, Ohio-based supplier of chemical additives, resins, pigments and packaging to more than 900 manufacturers across a variety of industries, including: paint and coatings, plastics, graphic arts, sealants and adhesives, specialty chemical compounders, rubber, and construction. CI Capital invested in Maroon Group in 2014.

CI Capital is a New Yok-based private equity firm with more than $2 billion in assets under management. The firm began making investments in 1993 when it was called Caxton-Iseman Capital. The firm served as the private equity arm of Caxton Associates for approximately 14 years, before spinning-out on its own in 2007. CI Capital has made over 200 acquisitions since its inception.

The middle market continues to see robust activity in the chemicals sector. Huron Capital formed Brudner Polymer to pursue investments in the space; Other deals include: Ingevity Corp.’s (NYSE: NGVT) acquisition of Georgia-Pacific’s pine chemicals business for $315 million andLittlejohn’s purchase of Cornerstone Chemical Co.