The Jordan Co. has completed the acquisition of Polymer Solutions Group's Polymer Additives division from Arsenal Capital Partners.
Cleveland-based PSG Polymer Additives is a provider of homogenizing agents, process aids, dispersions and release agents for the rubber, plastic and engineered wood industries globally. Through its network of five plants, the company develops proprietary products that are intended to meet exacting customer specifications, provide superior performance characteristics, enhance processing efficiency and optimize supply chains.
"My team and I are excited to be working with Jordan as we build out our global platform, grow our release agent market position, and continue to expand the market for our advanced technology SureMix® Performance Process Aids for silica rubber compounding,” PSG Polymer Additives CEO Mike Ivany said in a statement. “I want to thank the Arsenal team who has been a great partner. They helped us to reach our goals and to set the company on a trajectory that will propel growth over the next five years."
Roy Seroussi, an investment partner of Arsenal, added: "Through five strategic acquisitions in three years, PSG built the Polymer Additives business around high-value solutions in its core end markets. The partnership of TJC and management will enable further expansion in existing applications and into new segments. We want to thank Mike and his team for building PSG Polymer Additives, and we wish the company continued success."
Polymer Solutions Group's Functional Materials Division will remain with Arsenal. The Functional Materials Division is headquartered in Calhoun, Georgia.
Lazard Middle Market LLC and William Blair & Co. advised PSG and Arsenal.