MILWAUKEE - Grace Matthews Inc. and Aakash Chemicals and Dye-Stuffs Inc. (Aakash Chemicals) announced that private equity firm CenterOak Partners LLC, Dallas, Texas, has made an 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. Grace Matthews advised Aakash Chemicals on the transaction. Financial terms were not disclosed.

Based in Glendale Heights, Illinois, near Chicago, Aakash Chemicals is a supplier of pigments, dyes, liquid colorants, specialty resins and related chemical additives to the plastics, coatings, inks, agriculture and textile industries. Founded in the late 1970s as an importer of dyes for the textile industry, the company has evolved into a global supply chain partner with a reputation for providing significant value-added services, including quality control and technical support, research and development and product development, regulatory compliance, import/export logistics, and inventory management.

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.