The Nordic Capital Fund VI has bought global tinting systems provider CPS Color Group for an undisclosed sum.

The Nordic Capital Fund VI has bought global tinting systems provider CPS Color Group for an undisclosed sum.

Based in Vantaa, Finland and with some 900 employees in 11 countries, CPS Color and according to the group it is the world’s leading supplier of tinting systems and technology.

CPS says it is the only company in the world supplying all of the necessary tinting system components – colorants, dispensers, mixers, software, marketing materials, technical support and consulting services.

Nordic Capital has bought the company from Industri Kapital (IK), which acquired CPS Color (formerly known as Tikkurila CPS) in 2000. Since then, the company has undergone an organisational and operational restructuring. Under IK’s ownership, CPS Color has focused on organic growth, strengthening of R&D and building its business model.

The business has also grown with the acquisition and integration of Corob in 2002. Since 2000, the company’s revenues have more than doubled, whereas EBITDA nearly tripled during the same period.

Industri Kapital partner Michael Rosenlew said: “Under IK’s ownership, CPS Color has been significantly reorganised and restructured. We have worked closely with the management team to implement operational improvements while at the same time executing acquisition-driven growth.

“Today CPS Color is a much stronger company than when we acquired it with a unique profile and market leading position.”