Maroon Group, a distributor of life science ingredients and specialty chemicals headquartered in Avon and backed by the private equity firm CI Capital Partners, is set to be acquired by Barentz International, a life science distributor and portfolio company of Cinven. The companies expect to complete the transaction, which is subject to customary closing conditions, later this year. Financial terms of the transaction were not disclosed.

Maroon was acquired by CI Capital in partnership with the company's management team in 2014. Under CI Capital's ownership, Maroon completed 11 add-on acquisitions, expanded from a regional distributor focused on coatings and adhesives end markets to a leading North American distributor serving multiple attractive end markets – increasing revenues by over 450 percent. Today, the company serves more than 5,700 customers in the U.S. and Canada, distributing over 6,000 products from a diversified base of strategic suppliers.

Maroon Group will continue to be led by CEO Terry Hill, who joined the company's board of directors in 2017, and assumed the CEO role in 2019.

Moelis & Company LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Maroon on the transaction. Kirkland & Ellis LLP advised Barentz on the transaction.