December 19 2016, David R Brown
Maroon adds Cadence Chemical as the Group pursues rapid U.S. expansion
Maroon Group LLC has announced that it has acquired Cadence Chemical, a national distributor of specialty chemicals based in Stamford, CT. Cadence Chemical’s management team, led by John Wilson, will remain in place and continue to actively manage the business. Terms of the transaction were not disclosed.
We will be making further investments in the organization to accelerate their growth and look forward to building upon Cadence's historical success
Mark E. Reichard
President & CEO of Maroon Group
Founded in 2004, Cadence Chemical supplies specialty intermediates for the CASE, chemical processing, water treatment and associated industries. The transaction marks another example of a successful entrepreneur joining the Maroon team whose experience and market insight will be instrumental in executing Maroon's strategy going forward. The deal is the the Group's 5th acquisition in under 2 years. Besides Cadence Chemical, Maroon Group's portfolio of companies includes Maroon, U.S. Chemicals, CNX Distribution, D.B. Becker, Addipel, and Polyram USA.
“We're pleased to complete this acquisition and welcome Cadence to Maroon Group,” said Mark E. Reichard, President & CEO of Maroon Group. “John and his team have built an impressive company that shares a similar business model and values as Maroon. We will be making further investments in the organization to accelerate their growth and look forward to building upon Cadence's historical success. The specialty intermediates segment, serviced by both Cadence and U.S. Chemicals, is an important part of our business and the combination provides a compelling product and service offering to our customers.”
“The collaborative culture and business model of Maroon Group are a super fit with Cadence,” comments John Wilson, President of Cadence Chemical. He added, “Maroon has the team and infrastructure in place that will allow us to further expand our business. The focus that they place on service to the customer is unmatched in our industry.”
About Maroon Group LLC
Founded in 1977, Maroon Group LLC is one of the fastest growing specialty chemical distributors in North America. Based in Avon, Ohio, Maroon supplies specialty additives, resins and pigments to manufacturers focused on plastics, coatings, composites, graphic arts, rubber and adhesives markets. The Maroon Group is owned by Maroon Group management and CI Capital Partners, a New York-based private equity firm. The company continues to aggressively explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, successful companies. Maroon are a NACD responsible distribution verified company.
Source(s): Maroon Group Press Release