New York-based private equity firm Arsenal Capital Partners has made a majority investment in Pacific Urethanes (Pacific Urethanes), a leading developer and producer of specialty polyurethane foam materials.
Headquartered in Ontario, California, Pacific Urethanes, develops and commercialises proprietary foam products that service its customers’ needs, with a focus on novel technologies for the bedding market. Pacific Urethanes’ technology and solutions are applicable to a broad range of markets including specialty bedding, furniture, packaging and recreational market segments.
“Pacific Urethanes has developed a unique market position by providing highly technical foams to a variety of end markets, keenly focused on addressing customers’ needs,” says Timothy Zappala, a Partner at Arsenal and Co-Head of the firm’s Specialty Industrials Group. “We have studied this market very well and believe that Pacific Urethanes has a differentiated model that we can further leverage as part of a broader platform.”
Darrell Nance, who will remain as President of Pacific Urethanes, says: “We look forward to the partnership with Arsenal. They have made a number of investments in the polyurethane sector over the years and have strong expertise in the foam market.” Neil Silverman, Vice President of Pacific Urethanes, added, “Their financial and industry capabilities will be important as we continue to support our customers’ growth plans, and expand our footprint.”
John Televantos, a Partner at Arsenal and Co-Head of the firm’s Specialty Industrials Group, says: “Pacific Urethanes is the first investment in our strategy to build a specialty foam solutions and technologies platform. We will make additional investments in Pacific Urethanes and add on more businesses in the near term.“
