Chromaflo Technologies Corp., an independent global supplier of advanced colorants and chemical dispersions for the paint, coatings and thermoset plastics industries concluded a purchase agreement with Elementis B.V. whereby Chromaflo Technologies B.V. has acquired the Elementis Tint-Ayd line of colorant products that are sold in Europe, the Middle East and Africa. The acquisition of products became effective December 13, 2012. The purchase price was not disclosed.
"The acquisition of these products from Elementis B.V. is consistent with our efforts in supplying quality colorants for high performance industrial coatings and architectural paints in the European markets," said Scott Becker, president and CEO of Chromaflo Technologies Corp. "The Tint-Ayd line of colorant products in Europe fit well with our existing lines, increasing customers' options in support of these industries."
Production of the acquired products will be moved from Elementis B.V. located in Delden, Netherlands to Chromaflo Technologies' facility in Maastricht, Netherlands.
"This acquisition is important to us and we plan to make this a smooth transition for customers," said Holger Spieckermann, managing director Chromaflo Technologies B.V. "Quality products, speed of delivery, and support will be the level of service we will deliver to our new customers."
"We are committed to support Chromaflo Technologies' expansion of its products and services to serve the global coatings market. This is the first acquisition of several we hope to make to extend the reach of the company," said John Televantos, a partner at Arsenal and co-head of Arsenal's Specialty Industrial practice.