M&A Deal Summary

Arsenal Capital Partners Acquires Polytek

On October 22, 2018, private equity firm Arsenal Capital Partners acquired plastics company Polytek from MPE Partners and Apogem Capital

Acquisition Highlights
  • This is Arsenal Capital Partners’ 3rd transaction in the Plastics sector.
  • This is Arsenal Capital Partners’ 37th transaction in the United States.
  • This is Arsenal Capital Partners’ 2nd transaction in Pennsylvania.

M&A Deal Summary
Date 2018-10-22
Target Polytek
Sector Plastics
Buyer(s) Arsenal Capital Partners
Sellers(s) MPE Partners
Apogem Capital
Deal Type Secondary Buyout

Target

Polytek

Easton, Pennsylvania, United States
Polytek is a manufacturer of liquid mold rubbers and casting plastics. Polytek’s proprietary specialty polymers are used by customers to create flexible molds to reproduce highly-detailed, complex objects for a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping. Polytek was founded in 1984 and is based in Easton, Pennsylvania.

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Buyer(S) 1

Buyer

Arsenal Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arsenal Capital Partners is a private equity firm focused on middle-market healthcare, specialty industrial, and financial service companies. Specifically, Arsenal looks to acquire businesses in the areas of specialty chemicals, aerospace/defense, transportation, environmental services, business services, insurance, asset management, financial technology, medical products, healthcare IT, and healthcare contract research/manufacturing. The Firm typically seeks to commit $50 to $300 million per investment in profitable businesses with at least $10 million of EBITDA. Funds are generally used to support buyouts, recapitalizations, growth financings, consolidations, and divestitures. The Firm avoids investing in companies reliant on high levels of technology. Arsenal Capital Partners was formed in 2000 and is headquartered in New York City.

DEAL STATS #
Overall 38 of 57
Sector (Plastics) 3 of 5
Type (Secondary Buyout) 7 of 15
State (Pennsylvania) 2 of 2
Country (United States) 37 of 50
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 Meridian Adhesives Group

Charlotten, North Carolina, United States

Meridian Adhesives Group is a manufacturer of high-value adhesives and sealants technologies. Meridian Adhesives portfolio of solutions includes high-performance specialty epoxy, polyurethane, and hybrid adhesives for the electronics, medical, construction, and infrastructure markets. Meridian Adhesives Group was founded in 2018 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Elite Comfort Solutions

Newnan, Georgia, United States

Elite Comfort Solutions, Inc. is a provider of specialty foam. Elite Comfort Solutions has a national network of 16 facilities throughout the U.S. Elite Comfort Solution is based in Newnan, Georgia.

Sell $1.3B

Seller(S) 2

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.

DEAL STATS #
Overall 50 of 58
Sector (Plastics) 1 of 2
Type (Secondary Buyout) 10 of 12
State (Pennsylvania) 1 of 2
Country (United States) 48 of 56
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 Principia Biopharma

South San Francisco, California, United States

Principia Biopharma, Inc. is a private, clinical-stage bio pharmaceutical company, has created a revolutionary new way to design and develop oral small molecule therapies that are more potent, selective, durable and safer than currently available drugs. Principia Biopharma was founded in 2008 and is based in South San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 United Pipe & Steel

Ipswich, Massachusetts, United States

United Pipe & Steel Corp. is an independent master distributor of steel, copper and plastic pipe as well as conduit used in water/wastewater, irrigation, plumbing, electrical and infrastructure construction applications.

Sell -
SELLER

Apogem Capital

Chicago, Illinois, United States
Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.

DEAL STATS #
Overall 32 of 52
Sector (Plastics) 2 of 2
Type (Secondary Buyout) 15 of 25
State (Pennsylvania) 2 of 3
Country (United States) 32 of 52
Year (2018) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 National Auto Care

Westerville, Ohio, United States

National Auto Care is a provider of F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators, and credit unions. National Auto Care focuses on increasing agent and dealer profitability by providing unique F&I products in protected markets. National Auto Care was recently named a Top Workplace in Central Ohio for the third year running and was honored with a 2018 Dealer’s Choice Platinum Award for F&I Products. NAC was founded in 1984 and is based in Westerville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Fatz Cafe

Taylors, South Carolina, United States

Cafe Enterprises operates 43 company-owned full-service casual dining restaurants in North Carolina, South Carolina, Tennessee, Georgia and Virginia. Fatz Cafe is renowned for creating exceptional value for its guests with great food, friendly and efficient service, and a welcoming atmosphere, “Where Everyone’s a Regular”. Cafe Enterprises was founded in 1988 and is based in Taylors, South Carolina.

Sell -
Mergr

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