Management buyout team purchases Dominion Colour Corp. from Kikuchi Color & Chemicals April 18, 2008|
A management buyout team headed by president Mike Klein has purchased Dominion Colour Corp. (DCC), Toronto, ON, from Japanese parent company Kikuchi Color & Chemical (KCC), effective March 25. The transaction encompasses DCC and all DCC subsidiary companies. The members of the management buyout team include senior executives Mike Klein, Jack Nelligan, Bob Ralph and Mark Vincent. All four will continue in their current positions and are now the new owners, putting control of the company in Canadian hands exclusively for the first time in 18 years. According to a statement from DCC, the buyout team and KCC agreed that the timing was right for the executive team of DCC and its subsidiaries to implement its own vision, “with the support of but independently of KCC.”
According to the company, all DCC operating divisions and subsidiaries will remain intact and there will be no changes in the organization as a result of the change in control. Purchases from DCC’s suppliers will continue uninterrupted. DCC’s holdings include industrial coatings manufacturer A.R. Monteith Corp., Mississauga, ON.
For more details on this story, see the May issue of Coatings Magazine.
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