New York-based private equity firm Arsenal Capital Partners has agreed to acquire Dash Multi-Corp, a manufacturer of formulated polyurethane, vinyl plastisol, specialty coatings as well as recycled rubber products.
The Dash deal represents the fifth acquisition by mid-market investor Arsenal’s Specialty Industrials Group in 2012, as well as another example of the firm’s acquiring a company from its founder.
Founded in 1973 by Marvin Wool, the St Louis-based company manufactures custom formulated plastics and chemicals, coated fabrics, and recycled rubber products and generates over $100m in revenue.
Concurrent with the acquisition by Arsenal Capital Partners, Dash’s coated fabrics operations will become a separate entity owned by Marlen Textiles.
“Over the past 40 years, Marvin Wool has built a great company with an excellent reputation that is highly respected by its customers across a variety of end markets. Our team sees Dash as a great platform to grow in existing and new markets and the company is well positioned to support its customers to grow with leading technology, quality and service. We are excited to partner with management and help accelerate the development of the company going forward,” said John Televantos, a partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group.
Tim Zappala, a partner at Arsenal Capital Partners and the Group’s other co-head, added, “Dash operates in several exciting sectors and our plan is to invest in the business and identify strategic acquisitions to expand its core capabilities and provide more solutions to customers.”
Dash follows Arsenal’s specialty industrial investments in 2012 in IGM Resins, Plasticolors, Evonik’s Colorants business and Fluoro-Seal Holdings.
The firm’s current investments in the industrials sector include IGM Resins, a provider of intermediates to the ultraviolet radiation cure coatings, inks and adhesives industry; Chromaflo Technologies, the largest independent global pigment dispersion platform; Fluoro-Seal Holdings, a provider of plastic barrier adhesion products; and Royal Adhesives & Sealants, a producer of adhesives, sealants and coatings.
Previous investments in the sector include Genovique Specialties, IDQ Holdings, Novolyte Technologies, Sermatech International, Velsicol Chemical, and Vertellus Specialties.
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