AVON, Ohio, Oct. 24, 2014 /PRNewswire/ — Maroon Group, LLC is pleased to announce the acquisition of Addipel, LLC, a custom blender and re-packager of specialty chemicals based in Avon Lake, Ohio. Since its inception in 2008, Addipel has exhibited a history of growth and is an excellent fit with the business model and culture of Maroon.
“Maroon Group is excited to expand our value added service offering with the acquisition of Addipel,” Mark E. Reichard, President and CEO of Maroon Group, said. “This is a milestone for our organization as Addipel is our first acquisition in our 37-year history. We look forward to consistently delivering organic growth as well as integrating strategic acquisitions that allow us to further develop our product portfolio and create success for our customers and principal partners.”
About Maroon Group LLC
Maroon Group LLC is a leading specialty chemical supplier based in Avon, Ohio. Maroon Group is owned by CI Capital Partners and the company’s management. Maroon Group supplies specialty additives, resins, pigments, and packaging to North American manufacturers. Since 1977, Maroon has thrived on creating success for customers by forming partnerships with world-class manufacturers and supplying consistent products on time. Customers have come to rely on Maroon’s technical sales team, exceptional customer service, and global sourcing capabilities. To learn more about Maroon Group, please visit www.maroongroupllc.com.
About CI Capital Partners
CI Capital Partners LLC, a North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm’s inception, CI Capital and its portfolio companies have made more than 125 acquisitions representing approximately $7 billion in enterprise value. CI Capital’s existing portfolio consists of companies which collectively generate annual revenue of over $4 billion, annual EBITDA of over $400 million and employ over 14,000 people. To learn more about CI Capital Partners, please visit www.cicapllc.com.
Contact: Daniel Yunger, Kekst and Company
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SOURCE CI Capital Partners LLC