At the beginning of March 2012, private equity firm Huntsman Gay Global Capital (Foxborough, Massachusetts / USA; www.hgequity.com) announced that it had acquired plastics composites group Citadel Plastics Holdings (Chicago, Illinois / USA; www.citadelplastics.com) from fellow private equity group Wind Point Partners (Chicago, Illinois / USA; www.wppartners.com). Citadel Plastics is the owner of thermoset compounds producer Bulk Moulding Compounds (BMCI, Chicago, Illinois / USA; www.bulkmolding.com) as well as specialty thermoplastics compounds manufacturer The Matrixx Group (Evansville, Indiana / USA; www.matrixxgroup.com).

Terms of the deal were not disclosed, although Huntsman Gay Global Capital did say Citadel’s current management team would remain in place and retain an ownership stake in the business. The Chicago-based holding has a global workforce of more than 600 at 14 locations in seven different countries.