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Arsenal appoints specialty industrials operating partner

Private equity firm Arsenal Capital Partners has appointed Joseph M Salley, former chief executive officer of Milliken & Company, as an operating partner working within the firm's specialty industrials group.

Salley served with Milliken & Company for 20 years, holding a variety of positions at this leading, privately-held, multi-billion-dollar, diversified industrial company. Most recently, he served as president and CEO since 2008. Prior to that, he served as chief operating officer since 2006.
 
Milliken has 5,000+ patents worldwide, 35+ manufacturing facilities globally, and more than 7,000 associates. Throughout this same period and in the 14 years prior, Salley overhauled Milliken's business portfolio, investing in growth businesses while exiting several businesses. He was also responsible for numerous acquisitions, integrations, business repositionings and exits. 
 
Terry Mullen, Arsenal co-founder, partner and co-head of Arsenal's specialty industrials group, says: "We are delighted to have Joe Salley join our specialty industrials group, which is the leading private equity franchise in specialty chemicals and specialty materials and specialises in building high-growth, technology-rich middle market companies. Over the past 16 years, Arsenal has completed more than twice the number of platform acquisitions, add-ons, and exits than anyone in private equity, and has generated industry leading returns. The firm's integrated model, combining leading investment, industry and operating expertise, and collaborative culture continue to make Arsenal a destination of choice for top industry CEO's and executives. Joe's addition augments our industrials domain and technical expertise and positions us to continue our long-term leadership in the industry.”
 
John Televantos, Arsenal partner and co-head of Arsenal's specialty industrials group, says: "After an extensive search process, we are extremely pleased to have Joe Salley join our team. Joe is an exceptional CEO who brings the full spectrum of leadership and managerial capabilities and experiences to his operating partner role at Arsenal. Joe has proven strategic acumen, excellent technical and domain expertise in chemicals and materials, and a track record creating value in businesses. Importantly, Joe also has a wonderful, engaging style blending both confidence and humility that will be very effective with Arsenal's culture and approach to company building."

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