MacDermid Group, a specialty chemical company based in Denver, has withdrawn its proposed IPO, citing market conditions. The company is backed by Citigroup spin-off Court Square Capital Partners and private equity firm Weston Presidio. Founded in 1922, MacDermid is a specialty chemical services and solutions provider serving the needs of the electronics, industrial, offshore and printing industries. Court Square and Weston Presidio took the company private in 2007, paying $35 per share in a transaction that valued the company at more than $1.3 billion. Credit Suisse, Morgan Stanley and Deutsche Bank were set to underwrite the upcoming IPO, which was expected to raise $200 million for the company.