New York - US Private equity group Arsenal Capital Partners is to acquire Dash Multi-Corp., a manufacturer of formulated polyurethane, vinyl plastisol, speciality coatings and recycled rubber products.
The deal is the fifth purchase by Arsenal's Specialty Industrials Group in 2012, as well as another example of the firm's acquiring a company from its founder.
Founded in 1973 by Marvin Wool, St Louis, Missouri-based Dash custom formulates plastics and chemicals, coated fabrics, and recycled rubber products. The company has over $100 million in annual revenue.
Meanwhile Dash's coated fabrics operations will become a separate entity owned by Marlen Textiles Inc.
Dash's two primary businesses operate at seven facilities throughout the US: MarChem, the plastics and chemicals business, is a market leader in the development and manufacture of polyurethanes, vinyl plastisols, speciality coatings and adhesives used in a variety of processes ranging from medical device moulding to field installation of niche flooring applications.
The recycled rubber business manufactures high quality, durable large mat-pressed products, rolled rubber, and moulded goods for commercial flooring and industrial applications. It also manages one of the largest tyre recyclers in the US, which processes about 30 million pounds of tyres into rubber particles each year.
"Over the past 40 years, Marvin Wool has built a great company with an excellent reputation that is highly respected by its customers across a variety of end markets. Our team sees Dash as a great platform to grow in existing and new markets and the company is well positioned to support its customers to grow with leading technology, quality and service," said John Televantos, a partner at Arsenal Capital Partners and co-head of the firm's Specialty Industrials Group, in a statement.
Wool described Arsenal Capital Partners as the "right partner to help the company grow to its full potential. Their knowledge and commitment to the chemical industry and their interest and ability to enable us to grow our business in existing and new markets distinguished them among potential buyers."
Arsenal's acquisitions in 2012 include IGM Resins, Plasticolors Inc., Evonik's Colorants business and Fluoro-Seal Holdings.