Specialty chemicals distributor Maroon Group LLC of Avon said it has acquired Darien, Conn.-based U.S. Chemicals.

Terms of the transaction were not disclosed. Maroon Group said in a news release that U.S. Chemicals’ management team will remain in place and will continue to manage the business.

U.S. Chemicals, founded in 1960, supplies specialty chemicals to the lubricants, plastics and associated industries, Maroon Group said in the release.

Mark E. Reichard, president and CEO of Maroon Group, said in the release, “The opportunity to build on the customer and supplier relationships that U.S. Chemicals has fostered over its history is very important for our organization as we execute our growth strategy.” He said the acquisition “significantly broadens our product portfolio, service offerings and customer base.”

An email requesting information on the number of employees and revenues at Maroon Group and U.S. Chemicals was not immediately returned on Tuesday afternoon, May 3.

This is the second acquisition of 2016 for Maroon Group.

In January, it bought Hurst, Texas-based CNX Distribution for an undisclosed amount.

Plastics News, a sister publication of Crain’s Cleveland Business, reports that Maroon Group “has been active in the acquisitions field since being acquired itself in June 2014 by New York private equity firm CI Capital Partners LLC.”

 

Source : crainscleveland.com

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