Building Material – Chroma Color Corporation

Chroma Color Corporation invests more than $1.5 million across manufacturing sites and announces closure of its recently acquired Calumet City, IL operations

chromacolorstg on May 4, 2020

McHenry, IL: To fulfill Chroma Color’s commitment to continuous improvement and optimization of its manufacturing operations in providing world-class service and products, Chroma Color has completed significant investments at multiple manufacturing sites and just announced the transition of all production from its Calumet City, IL location (formerly Plastics Color Corporation of Illinois, January 2020) to other Chroma Color manufacturing sites. In addition, the Plastics Color Corporation business name will be officially changed to Chroma Color Corporation effective May 15, 2020.

“Since the acquisition of Plastics Color Corporation’s assets and business took place earlier this year, we have been diligently exploring a wide array of opportunities to maximize the value we can bring to our customers with an optimal manufacturing footprint. After careful consideration and recognizing that we have ample capacity available on more advanced manufacturing equipment located at other Chroma Color manufacturing sites, the decision to close the Calumet City location has been made. This decision puts us in the best position to invest in the locations that will best serve our customers,” said Tom Bolger, CEO, Chroma Color Corporation.

Bishop Beall, VP Sales, stated, “In preparation for this transition, Chroma Color has invested more than $1.5 million across our manufacturing sites. These recent investments include new equipment purchases, refurbishment of key equipment and assets, enhancements to our lab capabilities, and a variety of structural upgrades. The equipment upgrades included several twin-screw compounding lines, high intensity mixer, roto-cone blending system, and additional lab equipment. With these investments and the systematic transition plan currently in process, we are confident that this consolidation will allow us to deliver improved products, quality and service to our valued customers.”

Based upon several factors including equipment configurations, process requirements, regulatory requirements, and geographic locations, production is being transferred to Chroma Color’s operations in Asheboro, NC, McHenry, IL, Leominster, MA and Delaware, OH.

Last year, Chroma Color completed an expansion at its Leominster, MA site with an investment of more than $1 million that included significant structural upgrades, new compounding lines, a dust collection system, new state of the art color development laboratory, along with improvements to both warehousing and office environments.

“Since the decision was reached, we have been proactively engaged in the technology transfer of product formulas, manufacturing processes, and regulatory compliance processes. Production qualification is well underway for most products. We anticipate a seamless transition for current customers served out of Calumet City based on knowledge transfer and extensive experience at our other locations as well as some potential, limited job transfers. Detailed transition plans are in place and expected to be completed by the end of July,” continued Tom Bolger.

Earlier today, representatives of Chroma Color Corporation met with employees at the Calumet City facility to inform them of the decision and to share the transition assistance the company will be providing to those impacted. Completion of the Calumet City closure is anticipated to occur by July 31 following the successful transition of all product manufacturing.

Questions should be directed to Cass Birchbauer, Chief Human Resource Officer, Chroma Color Corporation at 330.421.8778.

About Chroma Color Corporation

Chroma Color Corporation is a leading specialty color and additive concentrate supplier serving a diverse range of markets that include packaging, healthcare, pharmaceutical, consumer products, wire & cable, building & construction, lawn & garden, appliance, sanitation, recreation & leisure, transportation and more. Chroma Color’s growth strategy includes both solid organic growth and through targeted acquisitions. Chroma’s extensive technical leadership and manufacturing expertise coupled with its game-changing colorant technologies have delighted customers for over 50 years.

Chroma Color Corporation Acquires Polymer Concentrates Inc.

chromacolorstg on February 12, 2019

McHenry, IL: February 12, 2019- Chroma Color Corporation announces today it has acquired Polymer Concentrates Inc., based in Clinton, MA. With this latest acquisition, Chroma Color continues to grow its manufacturing footprint along with its suite of colorant and additive technologies to better serve existing and prospective customers. Terms of the transaction were not disclosed.

Polymer Concentrates Inc., a privately-held company, develops and manufactures color concentrates for the international plastics industry. Over the past five decades, Polymer Concentrates Inc. has forged deep relationships with a wide range of customers in the automotive, communication technology, wire-cable, housewares, netting, packaging, and other specialty industries.

“We were very excited when we saw the opportunity to add Polymer Concentrates Inc. to the Chroma family,” stated Tom Bolger, CEO, Chroma Color Corporation. “The company has a solid reputation in the marketplace and its’ facility is very close to our plant in Leominster, MA. Chroma Color and Polymer Concentrates have complimentary product lines, but distinctly different customer bases that makes this acquisition very attractive allowing us to offer a broader suite of products to the customers of both the legacy Chroma and PCI.”

Howard DeMonte, Chroma President and head of Corporate Development states: “Polymer Concentrates delivers exceptional color technology for nylon and other engineering resins and has several exciting new products in the R&D pipeline. This coupled with their exceptionally talented work force has us excited about our future together.”

“We are pleased Polymer Concentrates Inc. has agreed to join Chroma. This acquisition continues the company’s strategy of growth both through innovation and acquisition of great customer and technology focused businesses.”

About Chroma Color Corporation

Chroma Color Corporation is a leading specialty color and additive concentrate supplier of the highest quality and the shortest lead times in the plastics marketplace. The business exceeds $160 million in sales due to solid organic growth and targeted acquisitions. Chroma’s extensive technical and manufacturing expertise coupled with its game-changing colorant technologies have surprised and delighted customers for over 50 years in markets such as: packaging, wire and cable, building & construction, consumer, medical, healthcare, lawn & garden, durables, sanitation, recreation and leisure, transportation and more.

Breen, Chroma, Carolina, and Hudson Color Companies To Form New Entity: Chroma Color Corporation

chromacolorstg on August 26, 2018

McHenry, IL: Breen, Chroma, Carolina, and Hudson Color are combining the exceptional talent, technical capabilities, manufacturing capacity and geographic footprint into one business entity—Chroma Color Corporation.

The four companies will start operating as a single entity with sound business values and an unyielding commitment to provide the plastic marketplace with high-quality products and services. The new business platform is designed to support continued growth and customer expansion in a dynamic marketplace.

Chroma Color Corporation produces color concentrates of the highest quality and the shortest lead times in the industry. The extensive product lines of colorants and additives have performed exceptionally well for customers for over 40 years in markets such as: wire & cable, packaging, building & construction, consumer, medical, healthcare, lawn & garden, durables, sanitation, recreation & leisure, transportation and more.

“Our entire team is committed to taking our valued commercial partnerships to greater heights as we expand our substantial capabilities with the singular goal of enhancing our customers’ competitive positions,” stated Tom Bolger, Chief Executive Officer, Chroma Color Corporation.

Chroma Color Corporation Chairman, George Abd commented: “This is an exciting time for the company as it grows organically, leveraging its patented products, expert technological resources and considerable manufacturing capacity and through future strategic acquisitions. We look forward to great success for Chroma Color Corporation.”

To learn more, visit Chroma Color Corporation’s new website. It includes a comprehensive overview of the company’s technical and manufacturing capabilities, products, services and more. https://chromacolors.com

About Chroma Color Corporation

Chroma Color Corporation is a leading specialty color and additive concentrate supplier in the plastics marketplace. The business, with sales of greater than $150 million, currently has extensive technical and manufacturing color masterbatch capabilities throughout the United States. Arsenal Capital Partners has been strategic investor in the company since late 2017.

Carolina Color Acquires Chroma Corporation

chromacolorstg on July 9, 2018

July 9, 2018. (Salisbury, North Carolina). Carolina Color Corporation (“Carolina Color”) announced today it has acquired Chroma Corporation, based in McHenry, Illinois. Chroma Corporation (“Chroma”) is a leading specialty color and additive concentrate business serving packaging, electronics, and many other markets. With this acquisition, Carolina Color continues to grow its manufacturing footprint throughout the U.S. to leverage its growing suite of colorant and additive technologies to better serve existing and prospective customers. Terms of the transaction were not disclosed.

“We are pleased to see Chroma, with its solid reputation in the Midwest, join our incredibly strong color businesses, Carolina Color, Breen, and Hudson, which were combined last year into Carolina Color,” stated George Abd, Chair of the Board of the company. “By combining these businesses that bring great product technology and reputations in the industry, we continue to execute our strategy of building the finest colorant company serving our markets. We are especially pleased to add the Chroma facility and team in McHenry, IL to our company as a strong base from which to grow and better serve our Midwest customer base.”

“We will continue to acquire key businesses with the capabilities and resources in locations that complement our current portfolio with the singular goal of meeting the colorant needs of both large and small plastic converters,” added Howard DeMonte, President of Carolina Color.

Chroma has provided total color solutions from its corporate headquarters in McHenry, Illinois, for more than 50 years. Chroma produces custom formulated masterbatch colors, dry colors, additive concentrates, and pre-color compounds for the packaging, electronic, safety, automotive, recreational, medical, and consumer products industries.

“We are exceedingly pleased to become part of this exceptional business,” added Chroma CEO Tom Bolger. “We were not considering a sale when approached, but we quickly warmed to the idea after meeting the team, hearing the vision, and reviewing Carolina Color’s considerable progress. Additionally, I worked with several of the key executives at Carolina Color earlier in my career and know them to be very talented, high-caliber people. I could not be more excited to remain with the company and I look forward to working with the entire Carolina Color team as we move the company forward together.”

About Carolina Color Corporation

Carolina Color Corporation is composed of four leading specialty color and additive concentrate supplier brands in the plastics marketplace. The brands include: Breen, Chroma, Hudson, and Carolina Color. This combined business, with sales of greater than $150 million, currently has an extensive manufacturing footprint throughout the U.S. Carolina Color was acquired by Arsenal Capital Partners in late 2017.

About Arsenal Capital Partners

Established in 2000, Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare business services companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 – $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For more information, please visit www.arsenalcapital.com

Arsenal Capital Partners Acquires Carolina Color and Breen Color Concentrates

chromacolorstg on October 31, 2017

New York, October 31, 2017 – Arsenal Capital Partners (“Arsenal”), a leading private equity firm that invests in middle-market specialty industrial and healthcare companies, announced today that it has acquired Carolina Color Corporation (“Carolina Color”) as well as Breen Color Concentrates, LLC (“Breen”) alongside the management teams of each company.

Now under common ownership, the combination of Breen and Carolina Color immediately establishes a leading specialty color and additive concentrate supplier in the plastics market. The combined business has five manufacturing facilities throughout the U.S. and can leverage its growing suite of technologies and products across the broader platform to better serve existing and prospective customers.

Headquartered in Salisbury, NC, Carolina Color is a leading supplier of custom color concentrates for the plastics industry serving customers across multiple end markets. The company’s unique G2® and G3® products are recognized as the premier technologies in the colorants space and offer customers the highest-loaded combination of pigments and additives in the industry.

Matt Barr, Vice Chairman of Carolina Color stated, “I am excited about our new partnership with Arsenal and believe they are uniquely positioned to support our next phase of growth and development. Arsenal has significant experience in the specialty chemical and plastics sectors, as well as a highly knowledgeable team that will help Carolina Color and Breen grow. We look forward to working with them as the company continues to focus on providing advanced color solutions for customers.”

Headquartered in Lambertville, NJ, Breen is a leading supplier of custom color concentrates for the plastics industry with a focus on serving the wire & cable, packaging, and consumer end markets. The company’s expertise in custom color formulations for PVC resins has enabled it to become the market leader in a broad range of market applications. Additionally, in February 2016 Breen acquired Hudson Color Concentrates, enabling its expansion into engineered resin-based concentrates and further expanding its manufacturing footprint in the Northeast and Midwest U.S. Breen and Hudson were majority-owned by Connecticut-based private equity firm, Capital Partners.

“The combination of Breen and Carolina Color is a perfect fit of two players in the color concentrate space,” said Howard DeMonte, President of Breen. “This combination brings together complementary manufacturing capabilities, broadens our base of technologies, and expands our market reach. All of this with a shared vision of excellent service by experienced teams will enable us to better serve our customers.”

Tim Zappala, a Partner of Arsenal, said “We are excited to be partnering with great leadership teams that have a long history of delivering continued innovation and sustained growth. This combination represents the next phase of growth for both businesses and is an important milestone in our strategy to build a leading color concentrate business offering customized and proprietary solutions. We look forward to continue their track records of growth through both organic initiatives, as well as building through strategic acquisitions to further expand the platform’s product and service offering.”

“Both Carolina Color and Breen are customer-centric organizations, dedicated to providing the highest levels of service and technology,” said Joe Rooney, a Principal of Arsenal. “The combination will have a number of strengths to draw upon as we create a premier platform in the color concentrate space through continued investment in growth and acquisitions.”

Stout Risius Ross Advisors acted as financial advisor to Arsenal in conjunction with the acquisition of Breen.

About Arsenal

Established in 2000, Arsenal Capital Partners is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 – $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.

https://www.arsenalcapital.com/

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