Caymus Equity Partners LLC (“Caymus Equity”) has announced that its portfolio company, Phoenix Aromas & Essential Oils, LLC (“Phoenix”), has acquired Ascent Aromatics, Inc. (“Ascent”). Headquartered in South Plainfield, NJ, Ascent specializes in the manufacturing of fragrances used in personal care, air care, household, fine fragrance, and industrial applications. This acquisition will serve to further bolster Phoenix as a fully integrated distributer and developer of flavors and fragrances.
“Ascent provides Phoenix with increased penetration in the fragrance industry while also allowing us to strengthen our presence as a developer of flavors and fragrances,” said J.P. Benveniste, CEO of Phoenix. “In addition, Phoenix will be able to capture significant cost synergies by sourcing ingredients for Ascent, creating a higher margin business.”
The transaction represents Phoenix’s strategy to become a fully integrated distributer and developer of flavors and fragrances.
The transaction closed in October 2017. To learn more about Phoenix, visit www.phoenixaromas.com