ASHTABULA, Ohio—Global colorant provider Chromaflo Technologies Corp. has made its second international acquisition in less than a year, this time buying Liquid Colours (Pty.) Ltd. of South Africa for an undisclosed price.
In an Aug. 1 news release, officials with Ashtabula-based Chromaflo said the deal "further enhances (its) position in the sub-Saharan African region."
Liquid Colours' colorant dispersion division includes pigment dispersions and colorant technologies for decorative paint point of sale, in-plant systems, industrial coatings and other applications. That business will be integrated into Chromaflo's recently-built plant in Johannesburg. Chromaflo Technologies South Africa will be headed by former Liquid Colours general manager Lyle Peters.
The transfer of product lines, technology and personnel from the Liquid Colours' dispersions division to Chromaflo will take place over the next 12 months, officials said. Chromaflo's South Africa operations are part of the firm's Asia-Pacific regional business, which is headquartered in Melbourne.
John Dry, Chromaflo APAC managing director and vice president, said in the release that combining Liquid Colours with Chromaflo's exisiting business "is a significant and exciting development for our business in Southern Africa." The combination "provides us with a solid platform in both volume and technology, coupled with a diverse range of products to further increase our regional footprint," he added.
In November, Chromaflo acquired the colorants unit of Central de Colores Plasticos (Cecoplas) of Queretaro, Mexico. That deal included a pigment dispersion business and a manufacturing plant.
Chromaflo has been owned since late 2016 by private equity firm American Securities L.L.C. of New York. Chromaflo operates plants North America, Europe, China and Australia, making chemical and pigment dispersions for thermoset plastics and composites and numerous other markets.
Arsenal Capital partners formed Chromaflo in mid-2012 by combining Ashtabula-based Plasticolors Inc. and the Colortrend unit of German firm Evonik Industries A.G. In late 2013, Arsenal merged Chromaflo with the colorants business of Scandinavian firm CPS Color B.V. to create a global business with annual sales of more than $400 million.