Arcline Investment Management has acquired Integrated Polymer Solutions from Industrial Growth Partners which acquired the company in May 2014.
Integrated Polymer Solutions (IPS) manufactures elastomeric components and tools that are used in the aerospace, military, biopharma and specialty industrial markets. IPS has an inventory of more than 6,000 custom tools which are used to produce more than 12,000 components, including thousands of propriety designs, which are sold to more than 1,100 customers.
The company’s products include elastomeric seals, gaskets, tooling, ablatives, electromagnetic interference (EMI)/radio frequency interference (RFI) shielding, thermal shielding, encapsulated o-rings, and composite APU plenums and ducts. Company-owned brands include Rubbercraft, Sanders Composites, NES, Creavy Seal and Fabritech. IPS, led by CEO Rich McManus, is headquartered in Long Beach, CA with an additional manufacturing facility in Sheffield, UK (www.integratedpolymersolutions.com).
“IGP was an ideal partner as we went through the process of expanding the senior management team, advancing our operating capabilities, and strengthening our leading seals and gaskets product portfolio,” said Mr. McManus. “IGP was an outstanding steward of IPS, and ultimately, the support and resources they provided were key in helping us better serve our customers and achieve our long-term strategic goals.”
Industrial Growth Partners (IGP) provides equity capital to North American-based niche manufacturers and industrial services businesses with revenues of up to $250 million. IGP was founded in 1997 and is based in San Francisco (www.igpequity.com).
“IPS’ world-class materials science capabilities and significant intellectual property enable the company to design custom products that solve complex challenges for its highly demanding, global customer base. In fact, many of the most important aerospace programs in the world use IPS products, including the F-35, Boeing 787 and Airbus A350,” said Arcline CEO Rajeev Amara. “We’re excited to partner with IPS management to build upon the company’s current momentum to achieve breakout growth through organic and inorganic means.”
Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include industrials, technology, life sciences, and specialty chemicals. The firm closed its first fund, Arcline Capital Partners LP, with $1.5 billion of committed capital in March 2019. Arcline was founded in September 2018 and has offices in San Francisco and New York (www.arcline.com).
© 2019 Private Equity Professional | July 16, 2019