A Newark-based specialty chemicals and ingredients distributor has been acquired by an Ohio-based company in the same field, according to a recent news release.
Avon, Ohio-based Maroon Group LLC, which is comprised of several regional operating companies, has now added New Jersey’s 120-year-old Seidler Chemical to its holdings, it announced.
Seidler’s management team, including founding family members Richard Seidler, company president, and Martha Seidler, will remain in place, Maroon Group said.
“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,” Mark E. Reichard, Maroon Group’s CEO and president, said in a prepared statement. “This acquisition allows us to expand our value-add service offering and build additional scale in attractive end markets.”
The company serves sectors ranging from pharmaceuticals to high-purity electronics and the food and beverage industry.
“We’re excited to be part of an organization like Maroon Group that shares our focus on customer success,” Richard Seidler said in a statement. “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 as it relates to acquiring businesses like Seidler.”
Financial terms of the deal were not disclosed.
