July 25 2019, David R Brown
CI Capital's Maroon Group acquires specialty chemicals distributor Amsyn, LLC
US specialty chemicals distributor, Maroon Group LLC has acquired Amsyn, LLC, a national distributor of specialty chemicals to the coatings, lubricants, nutraceutical, pharmaceutical, and electronics industries. Amsyn's management team, led by Thomas Castrovinci, will continue to actively manage the business on a day-to-day basis.
Maroon continues to attract proven entrepreneurs that have built sustainable, best-in-class distributors of specialty chemicals and ingredientsJoost Thesseling
Chairman of Maroon Group and Managing Director of CI Capital Partners
Established in 1989 and based in Nashua, New Hampshire, Amsyn distributes an extensive portfolio of chemical ingredients, supplemented by its differentiated service offering. Through custom synthesis and formulation services, consultative support, and global sourcing capabilities, the company has adapted to meet the full range of customers' development, commercialization, and distribution needs.
Terry Hill, CEO of Maroon Group, commented, “Amsyn's ability to distinguish itself as a leading provider of technical solutions has resulted in close integration within its customers' supply chains. We are thrilled to work with Tom and the Amsyn team. They have fostered strong relationships across the industry, resulting in an impressive track record of growth and a sustainable business model that complements our existing technical capabilities.”
“We are excited to be part of Maroon Group, which shares our focus on providing innovative solutions to customers' complex problems,” said Tom Castrovinci, President of Amsyn. “We look forward to leveraging Maroon Group's world-class infrastructure and the scale of a larger organization while maintaining the acute focus that our customers and principal partners have come to expect.”
Since coming under the ownership of CI Capital in June 2014, Maroon has: completed nine add-on acquisitions, grown its revenue fivefold, gained technical expertise, broadened its value-added service offering, developed new supplier and customer relationships, and attracted best-in class industry leadership.
Joost Thesseling, Chairman of Maroon Group and Managing Director of CI Capital Partners, commented “Maroon continues to attract proven entrepreneurs that have built sustainable, best-in-class distributors of specialty chemicals and ingredients.”
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. Portfolio companies of the Maroon Group include Maroon, Lincoln Fine Ingredients, Cadence Chemical, U.S. Chemicals, CNX Distribution, D.B. Becker, Addipel, Polyram US and J Tech Sales. The company continues to aggressively explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, successful companies supported by owner CI Capital Partners.
Source(s): Maroon Group Press Release