An affiliate of private equity investment firm HIG Capital has acquired Dominion Colour Corporation (DCC), a provider of high performance colour pigment solutions and preparations for the coatings, plastics and specialty ink industries.
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.
“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,” says Keval Patel, managing director at HIG 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, HIG’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,” says 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.”
