NEW YORK, NY – An affiliate of private-equity firm CI Capital Partners, New York, NY, has acquired a majority interest in Maroon Inc., a North American distributor of specialty chemicals based in Avon, OH. Maroon’s management team retains a significant equity interest in the company. Terms of the transaction were not disclosed.
Through a network of distribution centers across North America, Maroon Inc., which has changed its name to Maroon Group LLC, supplies nearly 900 customers with more than 30 million pounds of specialty additives, resins and pigments annually, with a focus on the plastics, coatings, composites, rubber and adhesives markets.
“We are honored to complete this transaction and begin our partnership with CI Capital,” said Mark Reichard, President & CEO of Maroon. “CI Capital’s resources, extensive experience in the distribution industry and track record of helping businesses like ours grow make them an ideal partner for our organization.”