Arsenal Capital Partners, a leading private equity firm that invests in middle-market specialty industrials and healthcare services companies, acquires Polytek Development Corp, a US manufacturer of liquid mould 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 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 specialty polyurethane foam technologies serving the bedding market.
Meanwhile, in July, Polytek had acquired Alumilite Corporation, a Michigan-headquarter formulator and supplier of mould making and casting materials with a predominant position in consumer industries including hobby, craft, education, and do-it-yourself.