Breen Color Concentrates is a manufacturer of color and additive concentrates that primarily services the plastics industry. The company has a deep expertise within the wire & cable end markets in which it holds a strong market share. During Heartwood Partners’ ownership, Breen expanded its presence in the consumer products and packaging end markets through organic growth initiatives and the acquisition of Hudson Color. This company is now known as Chroma Color.
02Why Heartwood Partners?
Breen management sought a partner capable of supporting internal growth initiatives and their ambitions to expand through acquisition. They favored Heartwood Partners’ lower-debt approach and the opportunity to personally share in the company’s profits through the distributions of excess cash flow.
03Heartwood Partners Added Value
Heartwood Partners worked with Breen management to develop and contact a list of priority add-on acquisition candidates, culminating in the acquisition of Hudson Color. The acquisition was highly strategic to Breen as it (i) added new technology that broadened Breen’s polymer portfolio, (ii) added new and faster growing end markets, (iii) expanded Breen’s geographic reach, and (iv) added production capacity. To further support management, Heartwood Partners added a seasoned plastics industry executive to the Board to aid in the strategic planning process and provide guidance through the integration of Hudson Color. During Heartwood Partners’ ownership, Breen was able to reach its growth objectives through the Hudson Color acquisition, organic growth initiatives, and margin expansion.