An affiliate of One Rock Capital Partners (One Rock), a value-oriented, operationally focused private equity firm, has completed the previously announced acquisition of the tire additives business of Eastman Chemical Company (Eastman), a specialist in critical specialty chemicals for the tire industry.
The company will operate under the name Flexsys, a tribute to the legacy name of the business. The acquisition of Flexsys marks One Rock’s sixth corporate carve-out transaction in 2021.
“We are excited to partner with the Flexsys management team to build on the company’s established reputation and position it for further growth and success,” says Tony W Lee, Managing Partner of One Rock. “We look forward to providing the strategic and operational resources needed for a successful transition from a corporate subsidiary to a strong, independent business.”
Latham & Watkins LLP acted as legal counsel, and RBC Capital Markets, LLC acted as financial advisor to One Rock.
