Chromaflo Technologies and CPS Color’s Colorants Business combine to form global color solutions platform
Dec 03, 2013
Ashtabula, Ohio, U.S.A./Vantaa, Finland, December 3, 2013 -
Global supplier of pigment and chemical dispersions Chromaflo
Technologies and integrated tinting specialist CPS Color's colorant
business combine to create one of the leading independent global
colorant system and pigment dispersion platforms worldwide, serving
customers in architectural and industrial coatings as well as the
thermoset plastics markets. As a result of the combination, the
former CPS Color Equipment Business Unit will become a standalone
company under the well-known brand name COROB.
The new colorants and dispersions specialist will operate
under the name Chromaflo Technologies and will be headquartered in
Ashtabula, Ohio, USA, with production facilities in the U.S.,
Canada, the Netherlands, Finland, Australia and China. Sales and
technical support will also be provided throughout North and South
America, Europe, Australia, China, India and South East Asia.
Chromaflo Technologies will have global sales, manufacturing and
technical capabilities with revenue in excess of US $400 million
"The combination of the CPS Colorants business with
Chromaflo Technologies is a perfect fit of two players in different
segments of the colorants industry," said Scott Becker, CEO of the
new Chromaflo Technologies. "This combination brings together
complementary manufacturing capabilities, broadens our base of
technologies and expands our global platform. All of this when
backed with a strong customer focus by an experienced team will
enable us to meet customers' varied requirements on both a local
and global basis."
Peter Baggen, formerly Executive Vice President Colorants
at CPS Color, will run the EMEA operations of Chromaflo
Technologies. He said, "The new platform will allow us to create
greater value and provide expanded opportunities for our customers.
Integrated tinting, which means having the best possible product in
each part of the tinting process, will remain our
The new combined company will be majority owned and
controlled by Arsenal Capital Partners. Nordic Capital Fund VI will
hold a minority shareholding in Chromaflo Technologies.
Brand Name COROB Strengthened as a
The CPS Color Group's Equipment Business, which
includes dispensing, mixing and shaking equipment, is not included
in the combination with Chromaflo and CPS Colorants and will become
a standalone company operating under the name
Tero Telaranta, formerly Executive Vice President
Equipment at CPS Color, and new CEO of COROB said, "Being a
stand-alone company will allow COROB to fully focus on its core
business, which is providing tinting equipment solutions designed
to meet our customers' varying needs."
With an installed base of over 100,000 units, COROB
generated €78 million of turnover in 2012 selling dispensers,
mixers and shakers. COROB will continue to be owned by Nordic
Capital Fund VI.
Strategic Development Manager
P.O. Box 816
2600 Michigan Ave.
Ashtabula, OH 44004-0816 USA
P: +1 (440) 536-9689
Marketing Communications Manager
CPS COLOR BV
P.O. Box 809
6130 AV Sittard, the Netherlands
About Chromaflo Technologies
Chromaflo Technologies is a major independent global
supplier of chemical and pigment dispersions to the thermoset
composites and architectural and industrial paint and coatings
industries. Chromaflo Technologies was created in April 2012
through Arsenal Capital Partners' concurrent acquisitions and
integration of Plasticolors, Inc. and Evonik Industries'
Colortrend global colorants business. For additional
information on Chromaflo Technologies, please visit
About CPS Color
CPS Color Colorants is a leading producer of colorants for
architectural and industrial paints and façade paints and plasters.
Based in Vantaa, Finland, CPS Colorants boasts a broad global
presence through its three manufacturing sites in the Netherlands,
Finland and China, and tolling operations, R&D / technical
service centers and a distribution network across the globe
including high-growth markets such as Asia and Latin America.
The company was formed from two predecessor companies. Tikkurila
CPS and Winter-Bouts, and was acquired by Nordic Capital Fund VI in
June 2008. For additional information on CPS Color, please
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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