|TCG strategically enhances Citadel's positioning in the market, strengthening the company's ability to deliver customer solutions across a growing portfolio of product and material capabilities.
|Gary Crittenden, HGGC Chairman, & Chairman of Citadel
The acquisition of The Composites Group (TCG) from private investment firm Highlander Partners, expands Citadel's portfolio and builds the company's presence in markets such as energy, aerospace and healthcare.
Formed in 2007 and headquartered in West Chicago, Citadel provides both thermoplastics and engineered composite compounds for the automotive, electrical, construction, and other markets. Its companies include BMC, a manufacturer of thermoset bulk moulding compounds (BMC).
The Composites Group, headquartered in Ohio, USA, comprises three business units – Premix, Hadlock Plastics and Quantum Composites – offering a portfolio of glass fibre and carbon fibre reinforced thermoset composite moulding compounds and parts. This year TCG launched the PremierLT™ family of lightweight, high-performance sheet moulding compounds (SMCs) designed for structural and semi-structural applications, and the PremierUV™ UV-resistant, flame retardant SMCs for electrical and outdoor applications.
With this acquisition, and the addition of Lucent Polymers in December 2013, Citadel has significantly expanded its business, with revenue increasing from approximately US$300 million to approximately $525 million.