Maroon Group LLC announced that it has acquired Seidler Chemical, a specialty chemicals and ingredients distributor based in Newark, NJ. Seidler's management team, led by Richard and Martha Seidler, will remain in place and continue to actively manage the business. Maroon Group is owned by CI Capital Partners and Maroon Group's management. This is Maroon Group's seventh add-on acquisition under CI Capital's ownership. Terms of the transaction were not disclosed.
Established in 1896, Seidler Chemical supplies specialty chemicals, ingredients and value-added services to the pharmaceutical, high purity electronic, industrial, and food & beverage industries. The transaction is another example of successful entrepreneurs choosing to join Maroon Group. Going forward, Seidler's deep experience, differentiated market insights and value-added capabilities will be instrumental in executing Maroon's strategy.
"We are thrilled about the opportunity to work with Rich, Martha and their team and welcome a company with a 120 year history to Maroon Group," said Mark E. Reichard, President & CEO of Maroon Group. "This acquisition expands our value-add service offering and builds additional scale in attractive end markets. We are seeking additional strategic add-on acquisitions to complement Maroon Group's business," Reichard added.
"We are excited to be part of an organization like Maroon Group that shares our focus on customer success," commented Rich Seidler, President of Seidler Chemical. "Providing stability for our employees, customers and suppliers was a priority when Martha and I set out on this course. Maroon has a proven track record of success in acquiring businesses like Seidler. They continue to invest in acquired companies and have a thoughtful approach to integration. Maroon Group was the right partner to continue the legacy of our family's company."
Joost Thesseling, Managing Director at CI Capital said, "Maroon Group's acquisition strategy has successfully focused on significantly expanding the end markets the company serves. After establishing a presence in the CARE (personal care, cosmetic, food & beverage, household/industrial and pharmaceutical) markets through the acquisition of Lincoln Fine Ingredients in February 2017, Maroon is now making its second acquisition in this area. We look forward to continuing to support the management team and the company's acquisition strategy."
