May 17 2018, David R Brown
Leading U.S. specialty chemicals distributor, Maroon Group acquires J Tech Sales
US specialty chemicals distributor, Maroon Group LLC has acquired J Tech Sales, a national distributor of specialty chemicals and ingredients. J Tech’s management team, led by Jeff Tannenbaum and Barry Tannenbaum, will remain in place and continue to actively manage the business as an operating entity within Maroon Group. Tannenbaum and Tannenbaum will also become significant shareholders in the Maroon Group, which is majority-owned by CI Capital Partners. J Tech is the eighth acquisition under CI Capital’s ownership and the deal makes Maroon one of Top 10 specialty chemical distributors in the U.S. Terms of the transaction were not disclosed.
This represents a strategic acquisition for us as we build upon existing positions in several core end-markets and continue expanding our value-add service offeringMark E Reichard
President & CEO of Maroon Group
Established in 1997, J Tech Sales is a value-add distributor to the household, industrial & institutional (HI&I); food & beverage; coatings; and personal care markets. With its in-house laboratory, blue-chip product lines, and technically-oriented sales team, J Tech Sales provides its customers and principal suppliers with a unique value proposition and end-market expertise. The transaction represents another example of successful entrepreneurs joining the Maroon team where they will be instrumental in executing Maroon Group’s strategy going forward.
“J Tech Sales is the preeminent specialty chemical and ingredient distributor in the North American HI&I market. This represents a strategic acquisition for us as we build upon existing positions in several core end-markets and continue expanding our value-add service offering,” says Mark E Reichard, President & CEO of Maroon Group. “Jeff, Barry, and the J Tech team have fostered strong relationships across the industry and have built a sustainable business model that represents a great fit with our culture. We are thrilled to have them join our team.”
“As part of Maroon Group, we look forward to working closely with the management team as we expand our geographical footprint and continue to invest in the technical capabilities that our customers and suppliers have come to rely upon,” says Jeff Tannenbaum, President of J Tech Sales. Barry Tannenbaum, J Tech’s Executive Vice President added, “We are excited to lead Maroon Group’s efforts in the HI&I market and I am confident our team will continue to thrive within their organisation. We look forward to leveraging Maroon Group’s world-class infrastructure and the scale of a larger organisation, while maintaining an acute focus on our customers and principal partners.”
About Maroon Group LLC
Founded in 1977, Maroon Group LLC is one of the fastest growing specialty chemical and ingredient distributors in North America. Based in Avon, Ohio, Maroon supplies specialty additives, ingredients, resins and pigments to manufacturers focused on plastics, rubber, CASE, composites, life science and HI&I markets. Maroon Group's portfolio of companies includes Maroon, Lincoln Fine Ingredients, Cadence Chemical, U.S. Chemicals, CNX Distribution, D.B. Becker, Addipel, and Polyram US. The company continues to aggressively explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, successful companies.
Source(s): Maroon Group Press Release