Arsenal buys PU products maker

US-based Arsenal Capital Partners has bought Arnco, one of the world's largest suppliers of polyurethane products. Arnco is the first acquisition of Arsenal under the umbrella of Dash Multi-Corp., a platform portfolio company focusing on the speciality technologies of polyurethane systems, vinyl plastisols and recycled rubber products. Established in 1971, Arnco operates through five main business units: Arnco Tire Flatproofing, the world's largest manufacturer of tire flatproofing systems; Arnco Performance Polymers, a manufacturer of high-performance polyurethane systems; Carefree Tire, supplier of an extensive line of light weight solid, micro-cellular polyurethane tires; Arnco Construction Products, which creates flexible and rigid roofing spray foams and UV protective coatings; and Arnco Europe, based in the UK, and provides manufacturing and customer support for three continents.

Arnco, headquartered in South Gate, has global manufacturing capabilities in the US, UK and China. Arsenal, a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, acquired Dash last December to create a leading global polyurethane and speciality materials platform. The firm says Arnco is the first acquisition of several it expects to make globally to extend the reach of Dash Polyurethane Systems

The investment in Dash followed Arsenal's speciality industrial investments in 2012 in IGM Resins, Plasticolors, Evonik's Colorants business and Fluoro-Seal Holdings. The firm's current investments in the industrials sector include IGM Resins, a leading provider of intermediates to the global UV radiation cure coatings, inks and adhesives industry; Chromaflo Technologies, (combination of Plasticolors and Evonik's Colorants business), the largest independent global pigment dispersion platform; Fluoro-Seal Holdings, a provider of unique plastic barrier, adhesion and surface enhancement products and services as well as manufacturer of value-added materials; Royal Adhesives & Sealants, a producer of proprietary, high-performance adhesives, sealants and coatings. Previous investments in the sector include Genovique Specialties, IDQ Holdings, Novolyte Technologies, Sermatech International, Velsicol Chemical and Vertellus Specialties.

Arsenal recently announced the completion of Arsenal Capital Fund III LP with US$875 million of committed capital, exceeding its target of US$750 million. The firm's previous fund, Arsenal Capital Partners II LP, was raised in 2006 with US$500 million of committed capital. Arsenal now has over US$1.6 billion of committed capital under management.


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