Jordan Co said Nov. 26 that it completed its buy of Polymer Solutions Group’s Polymer Additives division. Arsenal Capital Partners is the seller. Financial terms weren’t announced. PSG Polymer, of Cleveland, provides homogenizing agents, process aids, dispersions, and release agents for the rubber, plastic, and engineered wood industries globally.
CLEVELAND, Nov. 26, 2019 /PRNewswire/ — The Jordan Company (“TJC”) is pleased to announce that it has completed the acquisition of Polymer Solutions Group’s Polymer Additives division (“PSG Polymer Additives”) from Arsenal Capital Partners (“Arsenal”).
Headquartered in Cleveland, OH, PSG Polymer Additives is a leading provider of homogenizing agents, process aids, dispersions, and release agents for the rubber, plastic, and engineered wood industries globally. Through its network of five plants, the company develops proprietary products that meet exacting customer specifications, provide superior performance characteristics, enhance processing efficiency, and optimize supply chains.
Mike Ivany, CEO of PSG Polymer Additives, said, “My team and I are excited to be working with Jordan as we build out our global platform, grow our release agent market position, and continue to expand the market for our advanced technology SureMix® Performance Process Aids for silica rubber compounding. I want to thank the Arsenal team who has been a great partner. They helped us to reach our goals and to set the company on a trajectory that will propel growth over the next five years.”
“We look forward to partnering with Mike and the rest of the PSG Polymer Additives’ team to support the next phase of the company’s development,” said Erik J. Fagan, a Partner of The Jordan Company. “The company’s culture, innovative product development, and long-standing customer relationships make PSG Polymer Additives a strong fit for our investment strategy,” added Ian Arons, a Partner of The Jordan Company.
Roy Seroussi, an Investment Partner of Arsenal, added, “Through five strategic acquisitions in three years, PSG built the Polymer Additives business around high-value solutions in its core end markets. The partnership of TJC and management will enable further expansion in existing applications and into new segments. We want to thank Mike and his team for building PSG Polymer Additives, and we wish the company continued success.”
Polymer Solutions Group’s Functional Materials Division will remain with Arsenal. The Functional Materials Division is headquartered in Calhoun, Georgia.
Lazard Middle Market LLC and William Blair & Co. advised PSG and Arsenal.
About PSG Polymer Additives
PSG Polymer Additives is an innovative manufacturer of proprietary and custom polymer additives, dispersions, and performance chemicals for the rubber, plastic, and engineered wood industries. PSG offers a variety of customer-centric solutions that improve polymer processing, increase surface protection, and enhance product performance. Trusted by the world’s leading companies in over 41 countries, our unparalleled products and application expertise is not matched by any other supplier. For more information, please visit www.polymersolutionsgroup.com.
TJC, founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 37-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utility. The senior investment team has been investing together for over 20 years and it is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago. For more information, please visit www.thejordancompany.com.
Arsenal is a leading private equity firm that specializes in investments in middle‐market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 45 platform investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add. For more information, please visit www.arsenalcapital.com.