Morgenthaler Private Equity Partners has acquired Alumilite Corp., which will be merged into portfolio company Polytek Development Corp. to form a nationally integrated specialty chemicals provider. Alumilite is a formulator and supplier of mold-making and casting materials with a predominant position in consumer end markets including hobby, craft, education and do-it-yourself. "The acquisition of Alumilite will allow us to provide customers with a wider selection of products and packaging options, increased service, and greater accessibility to high-quality mold making and casting products,” Polytek CEO Jonathan Kane said in a statement. “Alumilite's location in the Midwest complements Polytek's existing manufacturing locations and will allow us to respond and deliver with greater efficiency than ever before." MPE Partners and Polytek partnered in the transaction with entrepreneur Mike Faupel, who will remain in his role as president of Alumilite. Genesis Capital acted as financial adviser to Polytek.
