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Exit Ramp: Arsenal-Backed Polyventive Primed for Sale

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Published: August 18th, 2022
The private equity firm has signaled a desire to exit the chemicals company before the end of 2022, sources say, as it remains the final piece of a 2015 platform still in Arsenal's portfolio.

The time may finally be here for Arsenal Capital Partners LP to exit Polyventive LLC, the remaining piece of a platform it formed in 2015, The Deal has learned.

Chemicals industry sources suspect a sale of the specialty construction and textile chemicals maker before the year is out.

The platform has projected Ebitda in the ballpark of $30 million to $40 million, three sources familiar with the business said. Arsenal has signaled a desire to exit the platform sooner rather than later, and a process could launch by the fourth quarter, two of the sources said.

Sources anticipate bids for Polyventive in the mid to high single digits, which would place a deal in the range of $250 million to $315 million based on the target’s suspected Ebitda.

An Arsenal official declined to comment on Polyventive’s financials or the timing of a sale.

Arsenal acquired part of what is now Polyventive in June 2015 through the acquisition of Rome, Ga., polymer chemicals manufacturer Peach State Labs LLC. Arsenal formed Polymer Solutions Group with the deal and went on to tack multiple businesses to the platform.

After an early 2019 auction for the entire Polymer Solutions platform did not attract suitable bids for the firm, however, Arsenal split off the company’s polymer additives unit in a sale to Jordan Co. in November 2019.

Editor’s note: The original version of this article was published Aug. 3, 2022, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

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