Cleveland, Ohio – US private equity firm The Jordan Co. (TJC) has acquired the polymer addtives division of Polymer Solutions Group (PSG), from owners Arsenal Capital Partners.
Headquartered in Cleveland, Ohio, PSG Polymer Additives is a supplier of homogenising agents, process aids, dispersions, and release agents for the rubber, plastic, and engineered wood industries, TJC said in a statement 26 Nov.
The business has five production plants and will be working with TJC to build a “global platform” and improve its position in the release agent market, said Mike Ivany, CEO of PSG Polymer Additives.
Under the ownership of TJC, the company will also expand its technology SureMix performance process aids for silica rubber compounding, Ivany added.
Polymer Solutions Group was founded in 2015 by Arsenal through the consolidation of additives business Flow Polymers with Peach State Labs and SASCO Chemical Group.
"Through five strategic acquisitions in three years, PSG built the Polymer Additives business around high-value solutions in its core end markets,” said Roy Seroussi, an Investment Partner of Arsenal.
Seroussi expects the partnership between TJC and the management team of the additives business will enable further expansion in existing applications and into new segments.