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Colonial Group Inc. Acquires Crown Carbon Reduction Technologies
Savannah-based Colonial Group anticipates expanding its specialty chemical business with the new division.
Crown, a portfolio company of Merit Capital Partners, is a leading provider of process chemicals for dust control, freeze conditioning, antioxidants, road stabilization, water treatment, and fuel catalysts with a focus on the mining, exploration, and production industries. Its products are used in a variety of applications to reduce waste, ensure regulatory compliance, and improve efficiency.
Colonial Group is one of America's largest privately-held companies with subsidiaries operating in numerous states spanning diverse business sectors.
"We are excited to add Crown Carbon Reduction Technologies to our family of companies," said Christian Demere, president and CEO of Colonial Group. "We look forward to working with Doug and the entire Crown team in supporting their continued growth and success."
Crown will operate as a standalone business of 34 employees and will remain headquartered in Wyoming. Its Division president, Doug Simmons, will report to Brett Giesick, chief operating officer at Colonial Group.
"We're excited to become part of the Colonial team," said Simmons. "The strong cultural fit will provide numerous opportunities for the team, and we see tremendous growth potential ahead that will deliver significant value to our customers and our suppliers."
Colonial's purchase of Crown represents an opportunity to continue to build the diversified energy and port-related company's chemical distribution portfolio, according to Demere. Specifically, Crown allows Colonial to grow its specialty chemical business, adding to the products offered by Colonial Chemical Solutions and AquaSmart and allowing for expansion to new geographies and industries.
Global M&A advisory firm, Grace Matthews, served as financial advisor to Crown and Merit Capital Partners on the transaction.
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