N.Y. investment firm buys Arnco, Pathway

Crain News Service

NEW YORK (May 2, 2013) — Arsenal Capital Partners, a New York-based investment group, has acquired Pathway Polymers and Arnco Inc., both producers of polyurethane tire fill material, through Dash Multi-Corp., a St. Louis polymers processor that Arsenal bought last year.

Financial terms were not disclosed.

Arsenal purchased Pathway from Vita Group, an English polymers processing company, and Arnco from its owners.

Both Arnco and Pathway will operate under the Dash umbrella with Pathway becoming part of Dash's tire fill operation in the Polyurethane Systems Business Unit.

Dash focuses on the specialty technologies of polyurethane systems, vinyl plastisols and recycled rubber products.

Chattanooga, Tenn.-based Pathway is the inventor of TryFil, a polyurethane tire fill material used to flatproof tires. It also owns the patent on AutoFil Recycler System used in the aftermarket sector and the OE AutoFil Recycler System designed for original equipment manufacturers.

Established in 1971, South Gate, Calif.-based Arnco operates five primary businesses: Arnco Tire Flatproofing, a maker of tire flatproofing systems; Arnco Performance Polymers, a manufacturer of high-performance urethane systems; Carefree Tire, supplier of a line of light weight solid, micro-cellular polyurethane tires; Arnco Construction Products, a producer of flexible and rigid roofing spray foams and UV protective coatings; and Arnco Europe.

Arnco has manufacturing operations in South Gate; Berea, Ohio; Manchester, England; and Jiaxing City, China.

Ironically, Arnco and Pathway's onetime owner Synair Corp. spent many years in court in a patent dispute over tire-filling material.

Dash Multi-Corp., which Arsenal purchased last December, focuses on formulated polyurethane, vinyl plastisol, specialty coatings and recycled rubber products.

Arsenal, founded in 2000, is based in New York and also has an office in Shanghai. The company describes itself as a "progressive private equity firm that invests in middle-market companies with revenues ranging from $30 million to $400 million."

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This report is based on stories that appeared on rubbernews.com, the website of Rubber & Plastics News, an Akron-based sister publication of Tire Business.

 
 

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