Netherlands-based distributor of life-science ingredients Barentz International has entered into a definitive agreement to acquire Maroon Group, a supplier of specialty chemicals and life science ingredients across North America. The acquisition of this leading North American platform will expand Barentz’s activities and is aligned with its strategy of becoming a global leader in the life science and broader specialty chemicals industries, said the press release. The deal is expected to close this quarter.
Maroon was founded in 1977 and is based in Avon, OH. It is one of the largest specialty suppliers to the household, industrial, and institutional; personal care; pharmaceutical; food & nutrition; and coatings, adhesives, sealants, and elastomers markets across North America. Maroon generates an annual turnover of approximately $500 million and has approximately 300 employees.
Maroon Group CEO Terry Hill and his management team will continue to run the operations. Joining with Barentz was a logical decision, said Hill. "The deciding factor was that Barentz is already a global business and this creates tremendous opportunities to strengthen our business in North America and internationally. Barentz is well-known across the industry, we share the same philosophy and entrepreneurial DNA, and is the best possible new home for the stakeholders across our business," said Hill.
"Our product portfolios are very complementary," added Barentz CEO Hidde van der Wal. "We have no conflicts of interest and we can learn a lot from each other. Maroon Group has significant scale in North America — the biggest economy of the world, where we were small, until today. The combination will immediately make Barentz a leading global distributor with an excellent opportunity to establish new business segments in North America. It is a natural combination that enables us to offer quality and expertise to our combined customer base."
Established in 1953, Barentz has operations in more than 60 countries with a strong presence in Europe and Asia. The company employs around 1,100 people throughout the world.
Kirkland & Ellis represented Barentz in the transaction. Moelis & Company LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Maroon on the transaction. Exact terms of the transaction have not been made public.