Arsenal’s Polytek Continues Build
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Arsenal’s Polytek Continues Build

The buy of Specialty Resin follows the February 2021 add-acquisition of Endurance Technologies and the October 2020 buy of Incredible Solutions

Polytek’s customers include artists, sculptors, hobbyists, model makers and industrial users

SOURCE: Polytek

Polytek, a portfolio company of Arsenal Capital Partners, has acquired Specialty Resin & Chemical. This is the seventh add-on for Polytek since being acquired by Arsenal in October 2018 from Morgenthaler Private Equity.

Specialty Resin & Chemical is a supplier of mold making, casting, and coating products – including epoxy resin, polyurethane resin and rubber, and silicone rubber – to hobbyists, small businesses, and do-it-yourselfers.

The company, owned by Daniel Wilson, was founded in 2007 and is based 24 miles east of Benton Harbor in Dowagiac, Michigan.

Polytek manufactures a line of specialty polymers including polyurethane elastomers and casting resins, silicone, latex, plastisol, thermoplastic elastomers, and epoxies. The company’s products are used in applications where molds are needed to reproduce complex objects in a variety of industrial, construction, entertainment, fine arts, and technology applications including concrete casting, special effects, tooling, sculpture, and prototyping. Polytek’s customers include artists, sculptors, hobbyists, model makers and industrial users.

Polytek’s company-owned brands include Raw Material Suppliers, Alumilite, BCC Products, Environmental Technology, Pro Marine Supplies, Stone Coat Countertops, Incredible Solutions, Custom Polymer Designs and MAS Epoxies. The company, led by CEO Doug Lorenz, is headquartered north of Philadelphia in Easton, Pennsylvania with additional facilities in California, Michigan, Minnesota, Indiana and Oregon.

“With years of experience and a broad and diverse product line, Specialty Resin is well-positioned to serve do-it-yourselfers, hobbyists, and small businesses,” said Mr. Lorenz. “They have created a name for themselves among these communities and we are very excited to help them build and grow upon the great success they have already achieved.”

The buy of Specialty Resin follows the February 2021 add-acquisition of Endurance Technologies, a Minnesota-based formulator and manufacturer of polyurethane and epoxy products; and the October 2020 buy of Incredible Solutions, a Florida-based maker of epoxy coating and casting products. Two earlier add-on acquisitions for Polytek include Oregon-based Stone Coat Countertops in August 2019; and California-based Environmental Technology in May 2019.

New York-headquartered Arsenal invests in middle-market specialty industrial and healthcare companies that have $100 million to $500 million of enterprise value. Since its founding in 2000, Arsenal has raised total capital of $5.3 billion, closed more than 200 platform and add-on acquisitions, and exited more than 30 portfolio companies.

Genesis Capital was the financial advisor to Polytek on this transaction.

© 2021 Private Equity Professional | September 10, 2021

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