NEW YORK (Dec. 20, 12:15 p.m. ET) – Private equity firm Arsenal Capital Partners has signed a deal to buy Dash Multi-Corp., a manufacturer of formulated polyurethane, vinyl plastisol, specialty coatings and recycled rubber products.
Founded in 1973 by Marvin Wool, St. Louis-based Dash has annual sales of more than $100 million, according to New York-based Arsenal Capital.
Arsenal is buying the company from Wool. Terms were not disclosed.
Dash has seven U.S. manufacturing plants serving two primary businesses: MarChem, which makes PU, vinyl plastisols, specialty coatings and adhesives; and the recycled rubber business, which makes large mat pressed products, rolled rubber, and molded goods for commercial flooring and industrial applications.
Dash claims to be one of the largest U.S. tire recyclers, processing more than 30 million pounds of tires into rubber particles annually.
Arsenal's specialty industrial group has made five acquisitions in 2012, including one earlier this week: the Tint-Ayd brand line of alkyd polyester-based colorants from Elementis Specialties Inc. of London.
Other Arsenal plastics holdings include Chromaflo Technologies Corp., the business it created earlier this year by merging Plasticolors Inc. and the Colortrend business of Evonik Industries AG — both of which Arsenal had acquired in 2012. Chromaflo is based in Ashtabula, Ohio.