Maroon Group Buys Lincoln Fine Ingredients
Maroon Group has acquired Lincoln Fine Ingredients, a specialty chemicals distributor based in Lincoln, Rhode Island, USA, serving the personal care, cosmetic, food & beverage, pharmaceutical and household/industrial markets. Financial details of the transaction were not disclosed.
Mark Reichard, president and CEO of Maroon, said the deal, which has been targeted for some time, represents the group’s first foray into the personal care segment. Lincoln Fine Ingredients’ management team will remain and continue to actively manage the business.
“We’re gaining some real momentum having completed six acquisitions in less than three years, including companies operating in the CASE [coatings, adhesives, sealants and elastomers], plastics, specialty intermediates and CARE segments,” said Reichard.
Last December, Maroon acquired Cadence Chemical, a Stamford, Connecticut distributor of specialty chemicals for the CASE, chemical processing, water treatment and associated industries. Also in 2016, the Avon, Ohio-based distributor purchased U.S. Chemicals and CNX Distribution, complementing the acquisitions of D.B. Becker and Addipel in 2015 and 2014, respectively.
Maroon said it will continue to explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, best-in-class distributors of specialty chemicals and ingredients.
