Maroon Group LLC has bought Cadence Chemical Corp., a national distributor of chemicals for the water treatment industry, for an undisclosed amount. The buyer's portfolio of companies expands to seven with acqusition of Cadence.
Cadence is a Stamford, Connecticut-based manufacturer and retailer of chemical acids, alcohols, solvents, acrylates, ortho esters, methacrylates, and anhydrides. The target helps smaller consumers manage the critical mass needed to access low-cost sources of chemicals from China, Eastern Europe, India, Brazil or the Middle East. “We will be making further investments in the organization to accelerate their growth,” says Maroon CEO Mark E. Reichard.
“The collaborative culture and business model of Maroon Group are a super fit with Cadence,” states Cadence president John Wilson. “Maroon has the team and infrastructure in place that will allow us to further expand our business.”
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. The buyer has a corporate office and warehouse facilities strategically located in Cleveland, Ohio and Chicago to provide next day delivery service to nearly 65 percent of North America’s industrial manufacturers. Maroon Group’s portfolio of companies consist of Maroon, Cadence Chemical, U.S. Chemicals, CNX Distribution, D.B. Becker, Addipel, and Polyram USA.
Recent deals for specialty chemical companies include: Platte River Equity’s purchase of Tiger-Sul Products LLC, a maker of crop performance products for the agricultural and industrial sector; Hastings Equity Partners’ acquisition of Impact Chemical Technologies, a chemical maker to the oil and gas industries; Advent International’s acquiring chemicals producer Viakem SA de CV; Bayer AG’s making an unsolicited bid for Monsanto Co. (NYSE: MON); Dow Chemical Co. and DuPont Co. merging to form a $130 billion chemical company; and FMC Corp.’s (NYSE: FMC) completed purchase of Cheminova.
