01 May 2013 14:16 [Source: ICIS news]
LONDON (ICIS)--Arsenal Capital Partners has acquired Arnco, a producer of polyurethane (PU) products, the US-based private equity firm said on Wednesday.
The purchase is the first bolt-on acquisition for Dash Multi-Corp, a US-headquartered formulated PU, vinyl plastisol and specialty coatings manufacturer purchased by Arsenal in December last year, the firm added.
Arsenal acquired Dash Multi-Corp to develop as a platform for other purchases, and to build its presence in the PU, vinyl and coatings sectors.
“Arnco is the first acquisition of several we expect to make globally to extend the reach of Dash Polyurethane Systems,” said Tim Zappala, a partner at Arsenal and co-head of the firm’s specialty industrials group.
Headquartered in South Gate, California, Arnco produces tyre flatproofing systems, PU systems, ultraviolet protective coatings and flexible and rigid roofing spray foams.
The company also provides manufacturing and customer support services outside the US through its Arnco Europe subsidiary, based in Manchester, in the UK. The company also has bases in Berea, Ohio, and Jiaxing City, China.
The company will be integrated into Dash Multi-Corp’s PU systems division, according to Dash CEO Andy Harris.
“This acquisition of Arnco builds on our focus of providing customers with specialty formulated products and on problem solving.
“Further, it strengthens our manufacturing capabilities, technical expertise and new product development initiatives.”
No financial details were disclosed.
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