H.I.G. Capital Completes Acquisition of Dominion Colour Corporation
MIAMI – October 5, 2016 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $20 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Dominion Colour Corporation (“DCC” or the “Company”), a leading global provider of high performance colour pigment solutions and preparations for the coatings, plastics and specialty ink industries.
Since 1946, DCC has been a market leader in pigment innovation and has consistently delivered high quality colour solutions to its longstanding and highly demanding customer base, which includes the largest global paint manufacturers in the world. With over 400 customers in 70 countries worldwide, DCC colour solutions are used in a variety of end markets including automotive and architectural coatings, consumer and industrial plastics, and specialty inks. Headquartered in Toronto, Canada, DCC has manufacturing facilities in Canada, the Netherlands, and the UK as well as technical sales offices throughout the Americas, Europe, and Asia to enable close collaboration with customers.
“We are very pleased to be partnering with the DCC team. DCC has been a leader in designing, developing and manufacturing new and innovative colour pigments for more than 70 years,” said Keval Patel, Managing Director at H.I.G. Capital. “We plan to work with the team to further expand the product portfolio both organically and through acquisitions, creating the most complete set of high performance pigment solutions in the market to meet the needs of DCC’s large and growing customer base.”
Michael Klein and Jack Nelligan, who have been Chief Executive Officer and Chief Financial Officer, respectively, will remain as minority shareholders and will provide consultancy support for a transitionary period. Mark Vincent, who was Executive Vice President, will lead the Company as its new Chief Executive Officer.
“While we already have a very strong core business and a bright future, H.I.G.’s investment provides us with the resources and strategic vision to accelerate our growth initiatives, including investments in product development and expansion of our geographic footprint,” said Mr. Vincent. “We expect that customers will see a seamless transition, and in the long-term, they will benefit from a broader product offering and additional resources to solve their toughest colour challenges.”
About Dominion Colour Corporation
Founded in 1946, Dominion Colour Corporation is a leader in colour pigment solutions and preparations for the coatings, plastics and specialty ink industries worldwide. As a leader in pigment innovation, DCC offers a broad product portfolio focused on high performance inorganic and organic pigments. Headquartered in Toronto, Canada, DCC has world class manufacturing facilities in Canada, the Netherlands, and the UK as well as technical sales offices throughout the Americas, Europe, and Asia to enable close collaboration with customers.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.