March 10 2017, David R Brown
Maroon Group LLC continues its rapid U.S. expansion with the addition of Lincoln Fine Ingredients (LFI)
Leading US specialty chemicals distributor, Maroon Group LLC has announced that it has acquired Lincoln Fine Ingredients, a national distributor of specialty chemicals based in Lincoln, RI. Lincoln Fine Ingredient's management team, led by Jim Noon and Walter Martish, will continue to actively manage the business. Terms of the transaction were not disclosed.
This represents Maroon Groups first foray into the CARE segmentMark E. Reichard
President & CEO of Maroon Group
Established in 1976, Lincoln Fine Ingredients is a distributor of specialty chemicals and ingredients, and provides value-add service offerings, to the personal care, cosmetic, food & beverage, pharmaceutical and household/industrial segments.
“Jim, Walter and their team have built a great company that shares a similar customer-centric approach as Maroon Group,” said Mark E. Reichard, President & CEO of Maroon Group. “We're delighted to complete this acquisition, which we've targeted for quite some time,” Reichard added, “This represents Maroon Groups first foray into the CARE segment.”
“We're excited to be part of a dynamic organization like Maroon Group that allows us to continue to lead, collaborate across our combined platform and invest in our growth.” comments Walter Martish III, President of Lincoln Fine Ingredients. Jim Noon, Lincoln's Executive Vice President adds, “The long-term stability that this provides for our employees, customers and key suppliers was a priority when Walter and I set out on this course. Maroon understands specialty chemical distribution, has proven their ability to invest behind their acquisitions, thoughtfully integrate them and contribute to their ongoing success.”
The deal is the the Maroon Group's 6th acquisition in just over 2 years. Besides Lincoln Fine Ingredient, Maroon Group's portfolio of companies includes Maroon, Cadence Chemical, U.S. Chemicals, CNX Distribution, D.B. Becker, Addipel, and Polyram US.
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, ingredients, resins and pigments to manufacturers focused on plastics, rubber, CASE, composites and now life science 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