St. Louis, Missouri - Dash Multi-Corp. has bought Pathway Polymers, a polyurethane tire fill material and equipment Company, from the Vita Group.
Dash is part of Arsenal Capital Partners (Arsenal) and focuses on the specialty technologies of polyurethane systems, vinyl plastisols and recycled rubber products.
Established in 1971, Pathway Polymers invented TyrFil, the world's first polyurethane tire fill material intended to flatproof tires.
No financial details were disclosed. It is Arsenal's second purchase in the run-flat tyre sector this week. as we reported yesterday.
Pathway supplies mining, construction, rental and OEM customers, in the US and international markets. Pathway also owns an exclusive patented AutoFil Recycler System for the aftermarket and the OE AutoFil Recycler System designed for original equipment manufacturers. This keeps millions of pounds of post-consumer tire fill and recycled pneumatic tires out of landfills each year
Andy Harris, Chief Executive Officer of Dash, said, "The acquisition fits with our strategy expand our global polyurethane capabilities."
After closing, Pathway will be part of the Dash Tire Fill business in the Polyurethane Systems business unit. Pathway is a good fit with the tire fill business of Arnco, which was also recently acquired by Arsenal as part Dash.
Joe Danules, President and Chief Executive Officer of Pathway Polymers said, "Pathway Polymers is now better positioned to serve its customers globally. Our strategy fits with Dash's desire to address the growing polyurethane tire fill market. This partnership will be good to our global customers and we look forward to being part of the Dash urethanes team."
Arsenal, a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, acquired Dash on 26 December, 2012 to create a leading global polyurethane and specialty materials platform.
John Televantos, a Partner at Arsenal Capital Partners and co-head of the firm's Specialty Industrials Group, said, "Pathway Polymers has a long history of innovation in the polyurethane tire fill market and fits very well with Dash's history and culture. The polyurethane technology continues to evolve and address unmet needs in the market. As we expand Dash Polyurethane Systems, we will support our customers in their growth."
Tim Zappala, a Partner at Arsenal Capital Partners and co-head of the firm's Specialty Industrials Group, added, "The combination builds on our strategy to create a leading polyurethane business offering a broad portfolio of products and technologies that serve multiple end markets."
Joe Danules, President and Chief Executive Officer of Pathway Polymers said, "Pathway Polymers is now better positioned to serve its customers globally. Our strategy fits with Dash's desire to address the growing polyurethane tire fill market. This partnership will be good to our global customers and we look forward to being part of the Dash urethanes team."
Nigel Hay, Chief Executive Officer for Vita Compounding a division of the Vita Group, said 'This disposal further improves the net cash position for the Vita Group and provides PWP with excellent opportunities for continued future development.'
