US equity fund Arsenal invests in elastomer specialist Polycorp

New York – US private equity fund Arsenal Capital Partners (Arsenal), which specialises in investments in industrial and healthcare companies, has made a majority investment in Canadian elastomer specialist Polycorp Ltd.

Based in Elora, Ontario, Polycorp manufactures rubber- and polyurethane- based elastomer solutions, for applications to reduce corrosion, abrasion, vibration, and noise.

The Canadian manufacturer employs 250 people and offers “leading engineering and design services,” Arsenal announced 29 Jan.

With “robust moulding, calendering, and extrusion capabilities”, Arsenal said Polycorp serves “mission-critical, infrastructure and industrial focused applications” for the mineral processing, rail, and protective linings industries.

The investment will accelerate Polycorp’s growth and enable additional investment in “manufacturing and R&D capabilities, human capital, and strategic acquisitions,” said Peter Snucins, founder of Polycorp.

Snucins will remain as an investor and board member of Polycorp following the acquisition.

The manufacturer was a “natural fit for Arsenal”, said operating partner Brett Schneider, adding Arsenal had previously invested in “elastomeric and polymeric technologies, such as rubber and polyurethanes.”