Polymer Solutions Group acquired Phoenix Chemical Co. Inc. in February as part of an effort to strengthen its position in the soft floor market and to broaden the reach of its product line, according to its president and CEO.
Based in Calhoun, PSG is a leading manufacturer of specialty polymers and additives and a portfolio company of venture capital firm Arsenal Capital Partners. It offers niche solutions serving customers in the rubber, wood, consumer, construction and medical industries. The acquisition of Phoenix Chemical was the latest in a string of purchases for PSG, which has eight manufacturing facilities and now employs more than 500 people in Georgia, Ohio and England.
PSG's holdings also include Peach State Labs Inc., a maker of fluorinated polymers and acrylic copolymers.
Phoenix Chemical is a specialty chemical manufacturer and distributor focused on the carpet, textile, water treatment and household, industrial and institutional chemicals markets. The acquisition allows PSG to gain further in-house knowledge in the formulated chemical systems area that allows for enhanced processes, performance and protection for its products, President and CEO Mike Ivany said in a news release.
About 100 new employees came to PSG as part of the acquisition with no layoffs. Phoenix Chemical President John Bryant also remained in a leadership role.
PSG is a manufacturer of specialty polymers and additives for the rubber, wood, consumer, construction and medical industries. PSG was formed by Arsenal Capital Partners in 2015 with the acquisition of Peach State Labs in Rome, Ga.
Flow Polymers in Cleveland; Sasco Chemical in Albany, Ga.; and Alkon Solutions in Leeds, England, were added in 2016 as part of an acquisition push. And in July 2017, the firm acquired Michelman Inc., a major supplier of release agents to the engineered wood market.
Details of the Phoenix acquisition were not released, and while Ivany declined to share specific revenue figures, he did say PSG has experienced double-digit revenue growth over the past few years that have been further enhanced with the aforementioned acquisitions.
