Dallas-based private equity firm CenterOak Partners’ portfolio company Aakash Chemicals & Dye-Stuffs has acquired Sandream Impact, a supplier of colourants and other specialty chemicals to the cosmetic, personal care, and nutritional markets. Terms of the transaction were not disclosed.
Sandream Impact serves a broad base of customers across the United States, Canada, and Europe, offering a comprehensive line of pearlescent pigments, nutraceuticals, and cosmetic actives. The acquisition of Sandream Impact by Aakash Chemicals brings a highly complementary focus on colorants and cosmetics and expands the product line of Aakash Chemicals in the special effect pearlescent pigments category.
“CenterOak has a longstanding history investing in family-owned and closely-held businesses in partnership with management and helping these companies grow through acquisitions and strategic initiatives,” says Randall Fojtasek, Managing Partner of CenterOak. “The acquisition of Sandream – Aakash Chemicals’ second deal in the last 12 months – is aligned to our investment thesis and advances the significant opportunity we recognized when we first partnered with Aakash Chemicals in 2017. The CenterOak team has significant expertise in the highly fragmented specialty chemicals distribution industry and we believe this latest deal helps position Aakash Chemicals for continued success.”
“The Sandream acquisition represents a transformational investment for our business,” says Aakash Shah, Chief Executive Officer of Aakash Chemicals. “Sandream Impact furthers our strategy of product and end-market expansion, which we initiated last year through our acquisition of Calico Food Ingredients, a food-colorant supplier. We are excited to leverage our broader product offering and expertise to better serve our customers. We will continue to focus on growth through organic initiatives and acquisitions in 2019 and beyond.”
