MOSCOW (MRC) -- Arsenal Capital Partners has made three more polyurethane foam acquisitions and will combine them into a single business, said Plasticsnews.
The most recent acquisitions made by New York-based Arsenal are:
Pacific Urethanes LLC of Ontario, Calif.
A majority stake in Elite Foam Inc. of Newnan, Ga.
The foam production assets of Hickory Springs Manufacturing Co. of Conover, N.C.
Arsenal will combine the three assets into a new unit called Elite Comfort Solutions, which will have 10 specialty foam production sites nationwide. The acquired businesses make PU foam for bedding, home furnishings, furniture, medical goods and packaging.
Arsenal officials announced the recent moves in a March 28 news release. No purchase prices were disclosed. Arsenal now has made 19 plastics-related acquisitions since 2012.
Earlier in March, Arsenal’s Accella Performance Materials unit bought the spray foam division of Quadrant Urethane technologies of Dallas. In late February, Arsenal acquired Flow Polymers LLC, an additives maker based in Cleveland.
As MRC informed earlier, Polymer Solutions Group (PSG), part of US private equity group Arsenal Capital Partners, has acquired Flow Polymers, a leading specialty additives and dispersions producer. Flow Polymers was sold by Geneva Glen Capital, another US private equity firm, for an undisclosed sum.
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation, and works closely with management to accelerate growth by leveraging the firm's industry focus and operational improvement capabilities.
MRC