Arsenal Capital Partners has closed its acquisition of Polycorp, a manufacturer of engineered elastomers.
Elastomers are polymers that are highly elastic and capable of returning to their original shape after being stretched or deformed. Engineered elastomers are materials with modified chemical compositions, molecular structures, or processing methods to achieve specific performance characteristics. These modifications can enhance properties like strength, durability, elasticity, and resistance to environmental factors.
Polycorp’s designs and manufactures engineered polymer products, including rubber- and polyurethane- based elastomers, which are used to reduce corrosion, abrasion, vibration, and noise in applications in the mining, rail, infrastructure and industrial sectors.
Polycorp has more than 220 employees and sells its products through a direct sales force and a network of sales agents worldwide. The company operates a 100,000 square-foot facility and headquarters that is located west of Toronto in Elora, Ontario. Polycorp was founded in 1996 by Peter Snucins to acquire the former assets of BFGoodrich Engineering Products of Canada.
“The transaction with Arsenal will accelerate Polycorp’s strategic growth initiatives and enable additional investment in our manufacturing and R&D capabilities, human capital, and strategic acquisitions,” said Mr. Snucins. “I am especially excited to partner with Arsenal given the firm’s established track record of building leading materials technology businesses in the elastomers sector.” Following the closing, Mr. Snucins will remain as an investor and board member of Polycorp.
“The company’s portfolio of capabilities is a natural fit for Arsenal, given our previous successful experiences investing in elastomeric and polymeric technologies, such as rubber and polyurethanes,” said Brett Schneider, an operating partner at Arsenal.
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 $10 billion, closed more than 290 platform and add-on acquisitions, and exited more than 35 portfolio companies.
“We are excited to partner with Polycorp given the company’s best-in-class elastomeric technologies and customer service capabilities,” added Dan Bruck, a principal of Arsenal.
William Blair & Company was the financial advisor to Polycorp and Harris Williams was the financial advisor to Arsenal.
© 2024 Private Equity Professional | January 30, 2024
