Chromaflo/CPS merger to create US$400 mn company

US supplier of pigment and chemical dispersions Chromaflo Technologies, owned by Arsenal Capital Partners, is merging with Finland-based tinting specialist CPS Color’s colourant business combine to create one of the leading independent global colourant system and pigment dispersion platforms worldwide, serving customers in architectural and industrial coatings as well as the thermoset plastics markets. CPS Color Group’s Equipment Business, which includes dispensing, mixing and shaking equipment, is not included in the deal and will become a standalone company operating as Corob.

The new colourants and dispersions specialist will operate under the name Chromaflo Technologies and will be headquartered in Ashtabula, Ohio, US, with production facilities in the US, Canada, the Netherlands, Finland, Australia and China. Sales and technical support will also be provided throughout North and South America, Europe, Australia, China, India, and Southeast Asia. Chromaflo Technologies will have global sales, manufacturing and technical capabilities with revenue in excess of US$400 million annually.

“The combination of the CPS Colorants business with Chromaflo Technologies is a perfect fit of two players in different segments of the colourants industry,” said Scott Becker, CEO of the new Chromaflo Technologies. “This combination brings together complementary manufacturing capabilities, broadens our base of technologies and expands our global platform. All of this when backed with a strong customer focus by an experienced team will enable us to meet customers' varied requirements on both a local and global basis.”

Peter Baggen, formerly Executive Vice President Colorants at CPS Color, will run the EMEA operations of Chromaflo Technologies. He said, “The new platform will allow us to create greater value and provide expanded opportunities for our customers. Integrated tinting, which means having the best possible product in each part of the tinting process, will remain our focus.”

The new combined company will be majority owned and controlled by Arsenal Capital Partners. Nordic Capital Fund VI will hold a minority shareholding in Chromaflo Technologies. Nordic Capital will also own Corob, which has an installed base of over 100,000 units and generated EUR78 million of turnover in 2012 selling dispensers, mixers and shakers.


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