New York — Chromaflo, a polyurethane colorants company, has changed hands in a management buyout backed by American Securities from its previous owners Arsenal Capital Partners and Nordic Capital Fund VI.
No financial terms were disclosed for the deal which is expected to close in November 2016.
Chromaflo's ceo, Scott Becker said: "American Securities has significant experience in the specialty chemical sector... which will aid our expansion. They are ideally situated to support our next phase of growth as we look to expand our product offerings, geographies and market reach."
Scott Wolff, managing director of American Securities, said; "We believe Chromaflo's commitment to product innovation and customer-focused management team position it for growth."
