Polytek, a portfolio company of Arsenal Capital Partners, has acquired Incredible Solutions, a maker and e-commerce seller of epoxy coating and casting products.
Incredible Solutions was founded in 2017 by Charlie Ives and supplies epoxy coating and casting systems used by do-it-yourselfers, artists, and craftsmen to coat wood bars and tabletops, decorative surfaces, and furniture.
Incredible Solutions is headquartered north of Tampa in Crystal River, Florida.
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. Company-owned brands include California Medical Innovations, Raw Material Suppliers, Alumilite, BCC Products, and ETI Technology. The company, led by CEO Doug Lorenz, is headquartered north of Philadelphia in Easton, Pennsylvania with additional facilities in California, Michigan, Indiana and Oregon.
“Incredible Solutions has had tremendous success in their first three years of business and we’re very excited to bring them onto the Polytek team and continue to grow with them in the coming years,” said Mr. Lorenz.
Earlier add-on acquisitions for Polytek include Stone Coat Countertops, an Oregon-based supplier of epoxy coating and casting systems to artists, designers, woodworkers, and the do-it-yourselfers (August 2019); and Environmental Technology, a California-based maker of coating and casting products used by artists, crafters and hobbyists (May 2019). Arsenal acquired Polytek in October 2018 from Morgenthaler Private Equity.
New York-headquartered Arsenal invests in middle-market specialty industrial and healthcare companies that have $100 million to $500 million in enterprise value.
© 2020 Private Equity Professional | October 29, 2020
