Headquartered in Salisbury, N.C., Carolina Color supplies custom color concentrates for the plastics industry.
Headquartered in Lambertville, N.J., Breen supplies custom color concentrates for the plastics industry with a focus on the wire and cable, packaging, and consumer end markets.
Breen in Feb. 2016 acquired Hudson Color Concentrates. Breen and Hudson were majority-owned by Connecticut-based private equity firm, Capital Partners.
“The combination of Breen and Carolina Color is a perfect fit of two players in the color concentrate space,” Breen President Howard DeMonte said. “This combination brings together complementary manufacturing capabilities, broadens our base of technologies, and expands our market reach. All of this with a shared vision of excellent service by experienced teams will enable us to better serve our customers.”
"This combination represents the next phase of growth for both businesses and is an important milestone in our strategy to build a leading color concentrate business offering customized and proprietary solutions," said Tim Zappala, a partner of Arsenal.
Added Joe Rooney, a principal of Arsenal: "The combination will have a number of strengths to draw upon as we create a premier platform in the color concentrate space through continued investment in growth and acquisitions.”
Stout Risius Ross Advisors acted as financial advisor to Arsenal in conjunction with the acquisition of Breen.
Image via Shutterstock