Dallas-based private equity firm CenterOak Partners LLC (CenterOak) has announced that its portfolio company Aakash Chemicals & Dye-Stuffs, Inc. (Aakash Chemicals) has acquired Sandream Impact, LLC (Sandream Impact).
Based out of Fairfield, N.J., Sandream Impact offers a comprehensive line of pearlescent pigments, nutraceuticals and cosmetic actives to customers across the United States, Canada and Europe. The acquisition expands Aakash Chemicals’ product offerings in special effect pearlescent pigments, with Sandream bringing a highly complementary focus on colorants and cosmetics
“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, CEO, 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.”