AVON, Ohio, Sept. 28, 2017 /PRNewswire/ -- Maroon Group LLC announced today that it has acquired Seidler Chemical, a specialty chemicals and ingredients distributor based in Newark, NJ. Seidler's management team, led by Richard and Martha Seidler, will remain in place and continue to actively manage the business. Maroon Group is owned by CI Capital Partners and Maroon Group's management. This is Maroon Group's seventh add-on acquisition under CI Capital's ownership. Terms of the transaction were not disclosed.
Established in 1896, Seidler Chemical supplies specialty chemicals, ingredients and value-added services to the pharmaceutical, high purity electronic, industrial, and food & beverage industries. The transaction is another example of successful entrepreneurs choosing to join Maroon Group. Going forward, Seidler's deep experience, differentiated market insights and value-added capabilities will be instrumental in executing Maroon's strategy.
"We are thrilled about the opportunity to work with Rich, Martha and their team and welcome a company with a 120 year history to Maroon Group," said Mark E. Reichard, President & CEO of Maroon Group. "This acquisition expands our value-add service offering and builds additional scale in attractive end markets. We are seeking additional strategic add-on acquisitions to complement Maroon Group's business," Reichard added.
"We are excited to be part of an organization like Maroon Group that shares our focus on customer success," commented Rich Seidler, President of Seidler Chemical. "Providing stability for our employees, customers and suppliers was a priority when Martha and I set out on this course. Maroon has a proven track record of success in acquiring businesses like Seidler. They continue to invest in acquired companies and have a thoughtful approach to integration. Maroon Group was the right partner to continue the legacy of our family's company."
Joost Thesseling, Managing Director at CI Capital said, "Maroon Group's acquisition strategy has successfully focused on significantly expanding the end markets the company serves. After establishing a presence in the CARE (personal care, cosmetic, food & beverage, household/industrial and pharmaceutical) markets through the acquisition of Lincoln Fine Ingredients in February 2017, Maroon is now making its second acquisition in this area. We look forward to continuing to support the management team and the company's acquisition strategy."
About Maroon Group
Maroon Group (www.maroongroupllc.com) is a leading distributor of specialty chemicals and ingredients across North America. Founded in 1977 and based in Avon, Ohio, Maroon Group is comprised of several regional operating companies focused on specific markets and geographies. Each operating company leverages a common infrastructure of industry leading technology, value-add services, global sourcing & logistics network, and a commitment to Creating Customer Success®. This operating philosophy has enabled Maroon Group to offer its customers, principal suppliers, and employees with national capabilities while maintaining a local focus.
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.4 billion in assets under management, 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 inception, CI Capital and its portfolio companies have made over 240 acquisitions representing over $8 billion in enterprise value. To learn more about CI Capital Partners, please visit www.cicapllc.com.
For more information, please contact:
Vice President - Corporate Development
Maroon Group LLC
1390 Jaycox Road
Avon, Ohio 44011
For CI Capital:
SOURCE CI Capital Partners