AVON, Ohio and NEW YORK, Aug. 4, 2015 /PRNewswire/ -- Maroon Group, a distributor of specialty chemicals, announced today that it has acquired D.B. Becker Co., Inc., an East Coast distributor of specialty chemicals based in Clinton, New Jersey. D.B. Becker's management team will continue to actively manage the business. Terms of the transaction were not disclosed.
Founded in 1954, D.B. Becker has an exceptional reputation in the specialty chemical distribution industry, which the company built through strong supplier and customer relationships, technical product knowledge, outstanding service and consistent performance. From Maine to Florida, D.B. Becker supplies nearly 1000 customers with high performance and environmentally friendly raw materials for the paint, ink, coating, adhesive, polyurethane, construction, plastics and allied markets.
"We are thrilled to complete this acquisition, which is our first step in a multi-tiered growth strategy," said Mark E. Reichard, President & CEO of Maroon Group. "D.B. Becker's management team has built an impressive business through their commitment to excellent customer service, and we believe the company is well-positioned to continue its strong growth, and that all stakeholders of both Maroon Group and D.B Becker will benefit from this combination."
Dan Canavan, Sr., D.B. Becker's President & CEO adds, "Maroon Group and D.B. Becker share a similar vision for continued growth and sales excellence. This acquisition will provide a stronger and more sustainable organization moving ahead."
"Mark Reichard and the rest of the Maroon Group management team have worked hard to identify attractive acquisition opportunities," said Joost Thesseling, Managing Director at CI Capital. "The acquisition of D.B. Becker is an excellent fit for Maroon Group, and we are confident that the company will continue to successfully implement its acquisition strategy."
NXT Capital and MidCap Financial provided debt to help finance the acquisition.
About Maroon Group
Founded in 1977, Maroon has become a leader in the specialty chemical distribution industry and has built deep supplier and customer relationships through its technical product knowledge and consistent on-time delivery of products. Through a network of distribution centers across North America, Maroon supplies nearly 900 customers with more than 30 million pounds of specialty additives, resins and pigments annually, with a focus on the plastics, coatings, composites, graphic arts, rubber and adhesives markets.
About CI Capital Partners
CI Capital Partners LLC, a North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm's inception, CI Capital and its portfolio companies have made over 160 acquisitions representing approximately $7 billion in enterprise value. CI Capital's existing portfolio consists of companies which collectively generate annual revenue of over $4 billion, EBITDA of over $400 million and employ over 14,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.
SOURCE CI Capital Partners LLC