M&As: Teknor Apex acquires Dorum Color’s dry colour business; Wind Point sells compounder Aurora Plastics to Nautic Partners

Rhode Island-based compounder Teknor Apex has acquired Dorum Color Company’s dry colour business. Dorum Color, located in Akron, Ohio, is a supplier of dry colour in North America with a singular focus on the rotational moulding market. The deal is structured as an asset purchase and customers will be supplied from Teknor’s Henderson, Kentucky facility.

Scott Dority founded Dorum Color in 1998. He brought significant expertise to the company along with extensive industry experience that included working for Teknor Color in Ohio. He is an acknowledged expert in the rotational moulding industry and has been an active participant in the Association of Rotational Molders (ARM) offering technical presentations and colour workshops worldwide. He will play an active role in the transition of Dorum customers and suppliers to Teknor Color to ensure supply security and business continuity.

Teknor Color is a subsidiary of Teknor Apex Company and offers a full line of custom and standard colours, as well as additives and special effects for a wide spectrum of polymers, from olefins, styrenics, PET, engineering plastics, to TPEs.

Meanwhile in other news, Chicago-based private equity firm Wind Point Partners and Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan, have sold PVC compounder Aurora Plastics to Nautic Partners, a middle-market private equity firm that has managed over US$3.3 billion in assets since its founding in 1986. Terms were not disclosed.

Based in Streetsboro, Ohio, Aurora is a provider of specialty materials solutions, including specialty flexible and rigid PVC, thermoplastic elastomers, and other engineered materials. Aurora’s products primarily serve the building & construction, industrial and consumer end-markets.

Under Wind Point, Aurora has made four acquisitions. Its most recent acquisition in 2019 was compatriot Elastocon TPE Technologies.

Wind Point and Ontario Teachers’ acquired Aurora in August 2016 in partnership with veteran specialty materials executive Darrell Hughes, who joined the company as CEO. Hughes was instrumental in expanding the depth of Aurora’s management team across numerous functions including sales & marketing, operations, R&D and human resources.

Wind Point and Ontario Teachers’ value creation plan for Aurora was developed around the goal of building a world-class North American specialty materials compounder. During their ownership, volumes more than doubled, new products and capabilities were introduced, and Aurora expanded its geographic presence through the addition of three facilities located in Quebec, Massachusetts, and Texas.

Nautic has also bought and sold assets including the sale of a majority stake in Spartech to the Jordan Co. Under Nautic's ownership, Spartech acquired film maker Tufpak Inc.

Last year, Nautic bought plastics products distributor Harrington Industrial Plastics and through Harrington bought Aetna Plastics of Ohio.

(PRA)

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