Polytek Development, a portfolio company of MPE Partners, has acquired Raw Material Suppliers, a distributor of private label RTV (room temperature vulcanization) silicone, urethane, mold release, and adhesive products.
Raw Material Suppliers was founded by Steve Levine in 1984 and is headquartered near San Diego in San Marcos, CA. With the closing of the transaction, Mr. Levine will serve as a senior sales executive of Polytek (www.rawmaterialsuppliers.com)
Polytek is a manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicones, epoxies, and latex. These products are used primarily in mold making and casting applications in industrial, construction, entertainment, fine arts, and technology sectors. Polytek, led by CEO Jonathan Kane, is headquartered north of Philadelphia in in Easton, PA (www.polytek.com).
“We saw a great fit between Polytek and Raw Material Suppliers and believe the synergies between the two will accelerate the growth of the combined company,” said Graham Schena, Principal at MPE.
MPE invests in lower middle market companies that are valued from $25 million to $150 million and have EBITDAs between $5 million and $20 million. Sectors of interest include high-value manufacturing and industrial services. The firm has offices in Cleveland and Boston (www.mpepartners.com).
Atlanta-based Genesis Capital (www.genesis-capital.com) was the financial advisor to Polytek.
© 2017 Private Equity Professional | July 27, 2017
