M&As: Chroma acquires J Meyer; Arxada and Troy to combine creating microbial control major

Specialty colour and additive concentrate supplier Chroma Color Corporation has acquired J. Meyer & Sons, a manufacturer of colour concentrates and masterbatches for the medical and pharmaceutical markets. Terms were not disclosed.

Founded in 1883, J. Meyer & Sons initially was a toy importer from the Black Forest region of Germany. During World War II, the company expanded into the chemical industry, producing driers for the paint and ink industries. During the 1960s, the company moved into plastics to meet the growing demand for customised colours. Today, J. Meyers produces custom and proprietary colour masterbatch and compounds.

“Chroma Color is committed to growing our healthcare business through both organic and inorganic activities. The acquisition of J. Meyer & Sons further bolsters Chroma Color’s strengths in supporting our healthcare customers that serve applications like medical devices, medical disposables, and pharmaceutical packaging,’ stated Shruti Singhal, Chroma Color Corporation, CEO.

Chroma Color's growth strategy includes robust organic and inorganic growth through eight acquisitions over three years.

In other news, Arxada, a global specialty chemicals business, and Troy Corporation, a supplier of microbial control solutions and performance additives, have entered into an agreement to combine the two companies. This agreement represents the first strategic deal by Arxada, formerly known as Lonza Specialty Ingredients or LSI and owned by private equity funds Bain Capital and Cinven, since the purchase from Lonza Group AG in July 2021. As part of the deal structure, Troy’s owners will invest in the combined company.

The partnership is a logical next step in Arxada’s strategy to strengthen its offering and enhance the capabilities of its Microbial Control Solutions (MCS) business. Troy is a global leader in the field of industrial preservation with broad expertise in paints and coatings, wood protection and preservation, home and personal care, plastics and textiles, energy and metal working fluids. The combination will create a comprehensive and innovative offering in microbial control, enabling the delivery of new solutions and value-added services to customers.

Arxada will benefit from Troy’s technical expertise, trusted customer relationships and broad portfolio of performance products as well as a long history of innovation, including the invention of 3-iodo propynyl butyl carbamate (IPBC), which Arxada does not currently manufacture. In addition, the proposed transaction will enhance Arxada’s commercial presence across the globe and add several production sites in important locations including Newark, NJ, US; Horhausen, Germany; Moerdijk, Netherlands and Kabinburi, Thailand. This extensive manufacturing footprint will allow the combined entity to better serve customer needs and strengthen its position as a trusted partner of choice in microbial control.

Commenting on the combination, Marc Doyle, CEO of Arxada, said: “The combination of Arxada and Troy will reinforce our position as a leading global provider of microbial control solutions. Our decision to merge with Troy just four months after our launch as an independent company highlights our ambition and commitment to creating the broadest and most innovative solutions for our customers in this sector.”

He added, “The combination also fits with our strategy of expanding our geographic footprint and the scale and depth of our capabilities by bolstering our manufacturing capacity in MCS beyond North America into Europe and Asia.”

(PRA)

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