Arsenal Capital Strikes Two Deals

The private equity firm Arsenal Capital Partners has acquired Evonik Industries’ colorants businesses and Plasticolors. Arsenal has combined the two companies to form Chromaflo Technologies, which it calls the world’s largest independent pigment dispersion firm. The Evonik business provides color systems to the architectural and industrial coatings market; Plasticolors does the same for coatings and thermoset plastics, according to Arsenal partner Timothy Zappala. Separately, Arsenal’s Royal Adhesives & Sealants unit has acquired Extreme Adhesives, a supplier of methyl methacrylate, anaerobic, and cyanoacrylate adhesives to the assembly, maintenance, and building markets. Arsenal acquired Royal in 2010. Arsenal recently sold Novolyte Technologies to BASF for more than $100 million (C&EN, April 30, page 18).