Arsenal Capital Partners, an industrial and healthcare-focused private equity firm, has taken a majority stake in Peterson Chemical Technology. The investment is part of Arsenal’s recently formed Elite Comfort Solutions platform, which was created in March 2016.
Peterson Chemical, a global technology company, is based in Fort Smith, Arkansas and specializes in pioneering polyurethane foam products through additives, specialty polyols, systems and applications development. The company is the latest addition to New York-based Arsenal’s platform which was formed in March.
Also in March, the middle market PE provider also acquired a majority stake in Newnan, Georgia-based Elite Foam Inc., which makes specialty foam for bedding and home furnishings, and signed an agreement to acquire the foam production assets of Hickory Springs Manufacturing Co. Also in March, Arsenal made an investment in Pacific Urethanes LLC of Ontario, California, which makes specialty foam for bedding, furniture and packaging.
Arsenal’s earlier investments in the polyurethane foam sector include St. Louis, Missouri –based Accella Performance Materials, which it formed in 2012. Since then, Accella been on a deal spree, acquiring Cartersville, Georgia-based companies Burtin Polymer Labs and Coating and Foam Solutions and Premium Spray Products in September 2015. Accella also purchased Lamberti Spa's photoinitiator business in July 2015 and IPS Polymer Systems Inc. in March 2015.