Dominion Colour Corp. has announced a ‘significant’ equity investment by affiliates of H.I.G Capital. Headquartered in Toronto, DCC was founded in 1946 and has established itself as a global supplier of color pigments and preparations for the coatings, plastics and ink industries.
H.I.G. Capital, based in Miami, FL, is a global private equity investment firm with over $20-billion in equity capital under management. The H.I.G. group of funds includes private equity, growth equity, real estate, debt/credit, lending and biohealth. It has over 250 investment professionals with operating, consulting, technology and financial management experience.
“We are delighted to welcome a new partner that shares our passion for product development and are excited to announce that our fellow shareholder and executive vice-president, Dr. Mark Vincent, will stay on and become the new CEO of the business,” said Mike Klein, president and CEO of DCC. “This investment facilitates the orderly ownership succession and retirement of DCC’s senior shareholder group who will remain as minority shareholders of the business.”
Added H.I.G. managing director Keval Patel, “With its focus on developing innovative technical colour solutions, DCC provides a unique value proposition to its longstanding customers worldwide for the use in high-performance coatings, plastics and inks.
Mark and his team have developed a truly exceptional portfolio of unique products to meet and exceed its customers’ most demanding performance specifications and we look forward to providing capital and strategic insight to continue to drive excellence and achieve the company’s growth potential.”
With technical sales offices in Americas, Europe and Asia, DCC operates six manufacturing facilities based in Canada, the UK, and the Netherlands. It and its subsidiaries will continue to operate under their current names and brand names.