Polymer Solutions Group, a portfolio company of Arsenal Capital Partners, has acquired Sasco Chemical Group, a maker of specialty chemicals for the rubber, wood, consumer and medical industries.
Sasco Chemical is a manufacturer of rubber anti-tack agents. Anti-tack agents are materials designed to eliminate the self-adhesive quality of rubber products and are applied to products to form a thin protective anti-tacky layer on the surface. Company owned brand names include PolyCoat, TechKote and Sasco Cote. Sasco is headquartered in Albany, GA with a research and development center in Macon, GA (www.sascochemical.com).
Polymer Solutions Group (PSG) was formed by Arsenal in June 2015 when the firm acquired Peach State Labs, a provider of specialty polymers and performance chemicals. In February 2016, PSG acquired Flow Polymers, a manufacturer of chemical dispersions, process aids and homogenizing agents used in the tire, automotive, industrial products, wire and cable, and plastics markets. Chemical dispersions and agents are used by manufacturers to shorten the processing time and temperatures of thermoplastic resins such as polypropylene, polyethylene, polystyrene, ABS and nylon. PSG is led by president and CEO Mike Ivany and is headquartered northwest of Atlanta in Rome, GA with an additional facility in Dalton, GA (www.peachstatelabs.com) (www.flowpolymers.com).
Sasco Chemical was founded in 1948 by Ernst Skalla. In 2009, Marc Skalla and his brother Rusty purchased the company from their father, Randy Skalla, becoming the third generation to own and operate the business. Today, Marc Skalla is the company’s president and Rusty Skalla is the chief operating officer. Both will remain actively involved in the operations of Sasco under PSG ownership.
“The acquisition of Sasco Chemical builds on PSG’s model of addressing unmet market needs through the development of differentiated technologies and services to solve customer needs. We will continue to pursue acquisition opportunities to expand the PSG platform in existing and new markets and broadening our capabilities to service our customers,” said Sal Gagliardo, an Operating Partner in Arsenal’s Specialty Industrials Group.
Twinbrook Capital (www.twincp.com) and Kayne Anderson (www.kaynecapital.com), PSG’s existing lenders, provided debt financing to support the acquisition of Sasco. PSG was advised by Kirkland & Ellis (www.kirkland.com).
Atlanta-based investment bank Genesis Capital (www.genesis-capital.com) was the financial advisor to Sasco Chemical.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-29-16
