Sandream Impact serves a broad base of customers across the US, 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, according to company executives.
"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," said Randall Fojtasek, managing partner, 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," said 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."
Founded in 1978, Aakash Chemicals is a supplier of colorants, additives and other specialty chemicals. The Company supplies products for use in a variety of industries, with a focus on plastics, coatings, food and graphic arts end markets. Aakash Chemicals is headquartered in Glendale Heights, IL.
Parent company CenterOak Partners LLC is a private equity firm with a focus on making control-oriented investments in middle market companies organized or operating in the US. The firm specializes in three industry sectors: industrial growth, consumer and business services. Based in Dallas, the investment and portfolio management team has managed over $1.8 billion of equity capital commitments and have completed over 100 acquisitions representing more than $3.3 billion in transaction value across current and predecessor funds.