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CenterOak Partners Makes Investment in Aakash Chemicals and Dye-Stuffs

MILWAUKEE (January 31, 2017) – Grace Matthews, Inc. and Aakash Chemicals and Dye-Stuffs, Inc. (“Aakash Chemicals”) announced today that CenterOak Partners, LLC (Dallas, TX) has made an investment in Aakash Chemicals. Aakash Shah, the current CEO of Aakash Chemicals, has retained his ownership position in the business and will continue to serve as its CEO. Grace Matthews advised Aakash Chemicals on the transaction. Financial terms were not disclosed.

Based in Glendale Heights, Illinois, near Chicago, Aakash Chemicals is a leading supplier of pigments, dyes, liquid colorants, specialty resins, and related chemical additives to the plastics, coatings, inks, agriculture, and textile industries.  Founded in the late 1970s as an importer of dyes for the textile industry, the company has evolved into a global supply chain partner with a reputation for providing significant value-added services, including quality control and technical support, R&D and product development, regulatory compliance, import/export logistics, and inventory management. 

“CenterOak is the right partner for us,” said Mr. Aakash Shah. “We have grown the company to a certain level and positioned the business for the next stage of growth, but to get there we will need the additional management support and strategic guidance that CenterOak can provide. Our partnership will enhance the company’s operational flexibility and give us the resources we need to develop new products and expand into new markets and geographies. We look forward to working with CenterOak and welcome them to the Aakash team.”  

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About Grace Matthews, Inc.
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies across the chemical and materials value chain. Grace Matthews is known globally for completing successful chemical industry transactions dating back to the early 1990s. Grace Matthews' principals have completed over 100 transactions involving global corporations such as AkzoNobel, 3M, DuPont, Sherwin-Williams, PPG Industries, Ashland, ICI, Air Products, Landec Corporation, The Home Depot, Hexion Specialty Chemicals, Becker Industrial Coatings, RPM International, Weatherford, BASF, Lubrizol, WR Grace, Axalta, Eastman, and Hempel. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com

About Aakash Chemicals and Dye-Stuffs, Inc.
For over 40 years, Aakash Chemicals and Dye-Stuffs, Inc. has served as a global, value-added distributor of pigments, dyes, liquid colorants, slip additives, and specialty resins. With its integrated coatings, plastics, inks, agriculture and textile laboratories, the company works with suppliers in the United States, India and China to develop products that it exports to more than 50 countries globally. Aakash Chemicals is known and respected for the value-added services it provides to customers. In addition to custom product solutions, it provides regulatory compliance expertise, quality control and technical services, import/export logistics, and inventory management services. For more information, visit www.aakashchemicals.com

About CenterOak Partners LLC
CenterOak Partners LLC is a private equity firm with a focus on making investments in middle market companies organized or operating in the United States. The Firm specializes in three key industry sectors: Industrial Growth, Consumer, and Business Services. Based in Dallas, Texas, the investment and portfolio management team has a strong historical track record of creating significant value through operational improvement. CenterOak’s senior leaders and their predecessor funds have managed over $1.8 billion of equity capital commitments and have completed nearly 100 acquisitions, representing over $3 billion in transaction value. For additional information, please visit www.centeroakpartners.com.

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