Arsenal acquires speciality polymers firm Polytek

Arsenal acquires speciality polymers firm Polytek

7:05 AM, 23rd October 2018
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NEW YORK, US: Arsenal Capital Partners has acquired Polytek Development Corp, from Morgenthaler Private Equity. Headquartered in Easton, US, Polytek is a leading manufacturer of liquid mould rubbers and casting plastics.

Polytek's proprietary speciality polymers are used by customers to create flexible moulds to reproduce highly-detailed, complex objects for a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping.

Arsenal brings significant experience investing in the global polymers market, having previously built Accella Performance Materials, a polyurethanes systems company, through nine strategic acquisitions, and Elite Comfort Solutions, a leading manufacturer of speciality polyurethane foam technologies serving the bedding market.

"Polytek has developed niche technologies in a number of applications, with a strong reputation of innovation and technical support.  The company's portfolio fits well with Arsenal's previous expertise in polymer technologies, such as in polyurethanes, silicones, and epoxies, where we have successfully invested in the past.  We look forward to partnering with Polytek and its employees and to accelerating Polytek's growth plans by delivering more solutions and capabilities to its customers," said Roy Seroussi, an Investment Partner at Arsenal.

"The team at Polytek and I are excited to partner with Arsenal.  Their deep experience in speciality chemicals and their operating model will bring tremendous value to Polytek, its customers, and its employees, and accelerate our plans for growth," added Jonathan Kane, CEO of Polytek.

Genesis Capital LLC acted as financial advisor to Arsenal.

© Worldofchemicals News

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