Arsenal Capital Partners has acquired Flowchem Ltd. for an undisclosed price.

Investment adviser Parks Paton Hoepfl & Brown ran the sale process for Flowchem, a specialty chemical provider. The Waller, Texas-based target is a provider of drag reducing additives that improve the function of applications in both onshore and offshore petroleum pipelines.

“The acquisition of Flowchem builds on Arsenal’s portfolio and established expertise in the specialty industrial sector,” said John Televantos, a partner who co-heads Arsenal’s specialty industrials practice. The deal also comes on the heels of Arsenal’s merging portfolio company Chromaflo Technologies with colorant business of CPS Color.  

New York-based Arsenal invests in middle market companies and has about $1.68 billion in capital under management.

In October, Arsenal portfolio company International Fiber Corp. purchased Fibred. In July, the firm closed a deal for Adco Global Inc. to add to Royal Adhesives and Sealants LLC.

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