M&A Deal Summary

Avient Acquires ColorMatrix

On December 21, 2011, Avient acquired plastics company ColorMatrix from Audax Private Equity and Blackstone Credit for 486M USD

Acquisition Highlights
  • This is Avient’s 4th transaction in the Plastics sector.
  • This is Avient’s 3rd largest (disclosed) transaction.
  • This is Avient’s 3rd transaction in the United States.
  • This is Avient’s 1st transaction in Ohio.

M&A Deal Summary
Date 2011-12-21
Target ColorMatrix
Sector Plastics
Buyer(s) Avient
Sellers(s) Audax Private Equity
Blackstone Credit
Deal Type Add-on Acquisition
Deal Value 486M USD
Advisor(s) Grace Matthews, Inc. (Financial)

Target

ColorMatrix

Berea, Ohio, United States
ColorMatrix Group, Inc. is a manufacturer of liquid color and additive concentrates for thermoplastic products. ColorMatrix serves customers in the blow molding, industrial extrusion, and performance molding industries who manufacture beverage bottles, vinyl siding, vinyl pipe, and other plastic products.

Search 201,157 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Avient

Avon Lake, Ohio, United States
Category Company
Founded 1885
Sector Plastics
Employees9,300
Revenue 3.1B USD (2023)
DESCRIPTION

Avient is a provider of specialized polymer materials, services and solutions. Avient was incorporated in 1885 and is based in Avon Lake, Ohio.

DEAL STATS #
Overall 5 of 20
Sector (Plastics) 4 of 15
Type (Add-on Acquisition) 4 of 13
State (Ohio) 1 of 1
Country (United States) 3 of 14
Year (2011) 2 of 2
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-28 Sunbelt Chlor-Alkali Partnership

McIntosh, Alabama, United States

Sunbelt Chlor-Alkali Partnership has approximately 350,000 tons of membrane technology capacity.Company owns and operates chlor-alkali plants to produce chlorine, caustic soda, and hydrogen.

Sell $132M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-24 Spartech

St. Louis, Missouri, United States

Spartech is a producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and roll stock products, and packaging solutions for a wide spectrum of customers. Spartech was founded in 1960 and is based in St. Louis, Missouri.

Buy $393M

Seller(S) 2

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 22 of 102
Sector (Plastics) 1 of 2
Type (Add-on Acquisition) 11 of 35
State (Ohio) 1 of 6
Country (United States) 21 of 97
Year (2011) 5 of 5
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-06 TMP Directional Marketing

New York City, New York, United States

TMP Directional Marketing is a local search agency, offering integrated offline, online and mobile search marketing solutions to top, national brands. Our clients describe us as indispensable.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-17 CIBT

McLean, Virginia, United States

CIBT is a global provider of mobility services including visa, passport, and immigration documentation. CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT’s services simplify the time-consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. CIBT was founded in 1989 and is based in McLean, Virginia.

Sell $215M
SELLER

Blackstone Credit

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
Size Mega
Type Sector Agnostic
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.

DEAL STATS #
Overall 3 of 11
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Ohio) 1 of 1
Country (United States) 3 of 5
Year (2011) 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Stolle Machinery

Centennial, Colorado, United States

Stolle Machinery Co., LLC is a manufacturer of a wide array of highly engineered equipment used by global can-makers to manufacture and decorate aluminum or steel can bodies and easy-open ends used primarily to package carbonated soft drinks, beer, and various foods.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-30 XLN Telecom

London, United Kingdom

XLN Telecom is a communications company based in London. It supplies fixed line and broadband services to 70,000 customers in the SME sector and is one of Britain’s fastest growing alternative telecoms service providers.

Buy £100M
Mergr

Product

Company

Legal