Arsenal Capital Partners ("Arsenal"), a leading private equity firm that invests in middle-market specialty industrials and healthcare services companies, announced today the acquisition of Polytek Development Corp. ("Polytek"), a leading manufacturer of liquid mold rubbers and casting plastics, from Morgenthaler Private Equity. The terms of the acquisition were not disclosed.

Polytek's proprietary specialty polymers are used by customers to create flexible molds 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 specialty polyurethane foam technologies serving the bedding market.

Roy Seroussi, an Investment Partner at Arsenal said, "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."

Don Nolan, Chair of Polytek's board, added, "We are delighted to partner with Jonathan Kane and his team. Polytek has a track record of successfully acquiring and integrating complementary technologies and product lines focused on its key markets. We will continue the trajectory of acquiring high-value polymer solutions and expect robust acquisition activity over the next few years."

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

 

Source: prnewswire.com

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