Polymer Solutions Group, a leading manufacturer of specialty polymers and additives, today announced its acquisition of Alkon Solutions Ltd (Alkon) from Stephenson Group Ltd. PSG is a portfolio company of Arsenal Capital Partners (Arsenal).
Based in Leeds, U.K., Alkon is a manufacturer of anti-tack products for the rubber industry. Alkon brings anti-tack technology and geographic scope that complements PSG's SASCO Chemical Additives Business. SASCO headquartered in Albany, Georgia is a leading manufacturer of rubber anti-tack agents in North America with its PolyCoat, TechKote and Sasco Cote product lines.
PSG was formed by Arsenal in June 2015 with the acquisition of Peach State Labs, Inc. (Peach State Labs), a leading provider of specialty polymers and performance chemicals. In February 2016, PSG acquired Flow Polymers LLC (Flow Polymers) a leading manufacturer of proprietary and custom chemical dispersions, process aids and homogenizing agents for tire, automotive, industrial products, wire and cable and plastics markets. SASCO was acquired by PSG in April 2016.
"I am delighted with the sale of our rubber business Alkon Solutions Ltd to PSG, as it will form a big part of their expansion and continue under the new ownership to go from strength to strength," said Jamie Bentley, CEO of Stephenson Group.
Mike Ivany, President and Chief Executive Officer of Polymer Solutions Group, said, "The addition of Alkon to the group broadens our anti-tack product offerings and accelerates the build-out of our global rubber additives business. Alkon's premium anti-tack products, customer service and support fit perfectly with SASCO's state of the art anti-tack slurry systems and unmatched customer service. By coupling SASCO and Alkon with Flow Polymers, PSG continues to expand our rubber processing additives business foundation and global footprint."
"The Alkon acquisition builds on our strategy of expanding our suite of technologies to our customer base and building a global platform. We are committed to support the rapid growth of PSG and will continue to pursue strategic investments that will further transform the company," said Sal Gagliardo, PSG Chairman and Industry & Operations Partner of Arsenal.
PSG was advised by Simmons & Simmons LLP.
Source : finance.yahoo.com