Frequent plastics wheeler-dealer Arsenal Capital Partners is at it again, buying specialty polymers and chemicals maker Peach State Labs Inc.
PSL's polymers lineup includes fluorinated polymers and acrylic copolymers. Its materials are used in several end markets, including flooring, textiles and consumer products.
In a June 30 news release, Arsenal partner John Televantos said that PSL “has a long history of innovations in the polymer sector” and that for Arsenal the acquisition “represents a niche platform in our strategy to build a global polymers business.”
Rome, Ga.-based PSL was founded in 1987. Its products are used in 90 percent of U.S.-made carpet, according to the firm's web site.
No purchase price was listed in the news release. The purchase was made by New York-based Arsenal's Arsenal Capital Fund III, which now has $875 million of committed capital.
Arsenal made 11 plastics-related acquisitions between 2012 and mid-2014 before selling liquid polymer maker Accella Performance Materials in December 2014. PolyOne Corp. bought St. Louis-based Accella from Arsenal for $49 million.
Arsenal sold off another plastics unit in April, when American Securities LLC of New York bought Royal Adhesives and Sealants LLC of South Bend, Ind. Royal makes a broad range of specialty formulated products, including some based on epoxy and urethane. That purchase was American's third plastics deal in 18 months.