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Chromaflo & CPS Color Collaborates to Create Global Colorant Systems & Pigment Dispersion Platforms

Published on 2013-12-05. Author : SpecialChem

ASHTABULA, Ohio, U.S.A./VANTAA, Finland -- 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 systems 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 annually.

"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 focus."

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 Stand-alone Company.

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 COROB.

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.

About CPS Color

CPS Color Colorants is one of the leading producers of colorants for architectural and industrial paints and fa├žade 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 in 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.

About Chromaflo

Chromaflo Technologies is one of the largest independent global pigment suppliers to the Paint & Coatings and Thermoset Plastics markets. Created by the integration of the Colortrend and Plasticolors businesses, their diverse technical and custom manufacturing capabilities provide color solutions to meet the most complex requirements. Applying the right blend of skill and craftsmanship, they solve ther customers' most complex color and appearance challenges. Their strong commitment to product quality and customer satisfaction is driven by an unwavering focus on each of their three core values: quality, speed and service.

Source: Chromaflo

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