NEW YORK, July 19, 2017 /PRNewswire/ -- Arsenal
Capital Partners (Arsenal), a leading New
York-based private equity firm that invests in middle-market
specialty industrial and healthcare companies, announced today the
acquisition of PolyOne Corporation's (NYSE: POL) (PolyOne) Designed
Structures and Solutions segment which will be renamed Spartech
LLC.
Headquartered in Maryland Heights,
MO, Spartech provides packaging, visual and structural sheet
and rollstock materials and specialty products for the food,
medical, building and construction, aerospace, automotive and other
markets. Spartech was acquired by PolyOne in 2013, and
included the extrusion and packaging segment as well as a
compounding and masterbatch segment (which was integrated into
other PolyOne segments and remains a part of PolyOne). The
newly formed Spartech has a network of 15 manufacturing facilities
strategically located throughout the U.S. and includes established
brands like Polycast, Royalite and SoundX.
Joining the Company as CEO and President is Arsenal's Senior
Advisor George Abd who will be
joined in the leadership team by CFO Bob
Robison, both St. Louis
residents with extensive experience building private equity owned
packaging and industrial businesses. Mr. Abd was an executive
of the former Spartech Corporation for approximately 10 years
including as its CEO until departing in 2007. Other current
members of the DSS leadership team will remain in their positions
as the business moves forward as an independent entity.
Mr. Abd stated, "We are very excited to invest in Spartech as a
platform for organic and inorganic growth in its key markets.
We also believe strongly that, as a private company, Spartech can
offer customers the speed, responsiveness and service demanded by
its markets. We are excited to return to the Spartech name
and its great customer focused heritage, including the commitment
to work hard and drive great service for our customers every
day."
"We have been fortunate to have had the opportunity to work with
George over the last year on shaping our plastics and packaging
strategy and were excited to work with him to carve out Spartech
into an independent company," said Tim
Zappala, a Partner at Arsenal and Co-Head of the firm's
Specialty Industrials Group. "We are very enthusiastic for
the prospects of Spartech under George's leadership, along with
exceptional talent already within the business, and are encouraged
we can leverage this acquisition as a broader platform with future
acquisitions."
About Arsenal Capital Partners
Established in 2000, Arsenal Capital Partners is a leading
New York based private equity firm
that specializes in investments in middle market specialty
industrials and healthcare companies. Since inception, Arsenal has
raised institutional equity investment funds of approximately
$3 billion. Arsenal invests in
industry sectors in which the firm has significant prior knowledge
and experience and seeks companies typically in the range of
$100 - $500 million of initial
enterprise value. The firm works with management teams to
build strategically important companies with leading market
positions, high growth, and high value-add. For additional
information on Arsenal Capital Partners, please visit
www.arsenalcapital.com.
For more information and future updates please see the company
news section at www.spartech.com
Contact Chris Tofalli
Chris Tofalli Public Relations, LLC
+1 914-834-4334
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SOURCE Arsenal Capital Partners