CI Capital-Backed Maroon Group Acquires CNX Distribution

Avon, OH - Maroon Group LLC announced today that it has acquired CNX Distribution, a Southwestern United States distributor of specialty chemicals based in Hurst, Texas. CNX’s management team will remain in place and continue to actively manage the business. Maroon Group is owned by Maroon Group management and CI Capital Partners, a New York-based private equity firm. Terms of the transaction were not disclosed.

Founded in 2006, CNX Distribution supplies raw materials for the CASE, plastics, oil & gas and chemical processing industries. CNX has developed an outstanding reputation in the specialty chemical distribution industry and has a proven record of strong supplier and customer relationships built through excellent service and consistent performance.

“We’re thrilled to complete this acquisition as we continue to implement our multi-tiered growth strategy,” said Mark Reichard, President & CEO of Maroon Group. “CNX Distribution is our third acquisition in 15 months and provides an anchor for us in this strategic region of the country. The company has a tremendous team led by Jay McHugh and Bill Ward and a fantastic record of growth. We look forward to leveraging each company’s portfolio of products for further expansion.”

“Maroon Group’s culture and focus on exceptional service is a great fit with CNX,” comments Jay McHugh, CNX’s President. Bill Ward, CNX’s Vice President added, “We look forward to being part of a rapidly growing organization with enhanced resources available to support our employees, customers and principal partners.”

“The Maroon Group management team, led by Mark Reichard, has worked hard to implement an acquisition strategy based on building relationships with other specialty chemical distributors and structuring partnerships that will benefit both companies,” said Joost Thesseling, Managing Director at CI Capital Partners. “We are pleased with the progress made in just eighteen months of ownership and look forward to a very productive 2016.”