ASHTABULA, Ohio—Global colorant provider Chromaflo Technologies has acquired the colorants unit from Central de Colores Plasticos (Cecoplas) of Queretaro, Mexico.
No purchase price was listed in a Nov. 5 news release announcing the deal between Cecoplas and Ashtabula-based Chromaflo. The acquisition was effective Nov. 1.
Chromaflow is acquiring the pigment dispersion business and one manufacturing facility, and Cecoplas will become a Chromaflo product brand name.
In the release, Scott Becker, chromaflo president and CEO, said that the acquisition "is consistent with our efforts in supplying quality colorants and additives for high performance thermoset products in the Americas' markets and beyond."
He added that the addition of the Cecoplas business "will provide us an opportunity to serve the Mexican market to a more effective degree."
The Cecoplas business has sold colorants to plastics manufacturers, compounders and molders for more than 20 years. Its products are used with PVC, polyurethane, polyester and polyolefins for applications in automotive, textiles, shoes and toys.
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. Arsenal then added to Chromaflo in late 2012 by acquiring the Tint-Ayd brand line of colorants from Cleveland-based Elementis Specialties Inc.
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.