In a move to expand its position in paints, inks and coatings, Nexeo Solutions completed the acquisition of Chemical Specialists and Development, Inc., also known as Startex Chemical. This move also reflects Nexeo Solutions' continued focus and commitment to growth in their dedicated end markets such as energy and lubricants.
Through this acquisition, Nexeo Solutions expands its capabilities in formula preparation, custom blending and laboratory testing. The acquisition also enhances Nexeo Solutions' contract chemical packaging, private label chemical packaging and lab capabilities as CSD operates Startex Chemical, Prist, Arpol, and ST Labs in the marketplace.
"We are pleased that the acquisition has closed," said Nexeo Solutions' President and CEO, David Bradley. "It not only advances Nexeo Solutions' strategy, it also strengthens our end market presence and increases our growth in the Gulf Coast region, allowing us to further expand our value proposition for our customers and suppliers across North America."
"We are ready to begin integration activities," according to Steve Cooke, CSD President and CEO. "CSD customers will benefit from a wider selection of products, broader logistics capabilities, and dedicated technical expertise in our end markets; while Nexeo Solutions will benefit from our capabilities in small packaging to drive new growth."
Following the acquisition, CSD will continue to operate out of its existing facilities.