MILWAUKEE - Aakash Chemicals and Dye-Stuffs Inc. (Aakash Chemicals) announced that CenterOak Partners LLC, a Dallas-based private equity firm, has completed a majority investment in Aakash Chemicals. Aakash Shah, the current CEO of Aakash Chemicals, has retained his ownership position in the business and will continue to serve as its CEO.
Based in Glendale Heights, Illinois, near Chicago, Aakash Chemicals is a leading supplier of pigments, dyes, liquid colorants, specialty resins and related chemical additives to the plastics, coatings, inks, agriculture and textile industries.
"CenterOak is the right partner for us," said Shah. "We have grown the company to a certain level and positioned the business for the next stage of growth, but to get there we will need the additional management support and strategic guidance that CenterOak can provide. Our partnership will enhance the company's operational flexibility and give us the resources we need to develop new products and expand into new markets and geographies. We look forward to working with CenterOak and welcome them to the Aakash team."
CenterOak Partners LLC is a private equity firm with a focus on making investments in middle-market companies organized or operating in the United States. The firm specializes in three key industry sectors: industrial growth, consumer and business services.