Pacific Avenue Capital Partners, a Los Angeles-based private investment firm, has formed Resin Solutions, which has agreed a carve-out of three product lines developed by Cray Valley, TotalEnergies’ resin production affiliate.
Pacific Avenue Capital specialises in M&A, corporate divestitures and other complex situations in mid-market companies. The investment is being deployed via Pacific Avenue Fund I, L.P.
The carve-out deal, which covers includes four production sites in the US, one production site in Italy, and global customer relationships across diversified end markets.
The three acquired product lines – PolyBD®, Wingtack®, and Dymalink® – are market leaders in functional additives. Specifically, PolyBD® is used as a polyol for polyurethane in high-performance adhesives, sealants, and aerospace propellants. Wingtack® is a tackifying resin used in various applications including packaging, tapes & labels, tires, construction sealants, and coatings. Dymalink® is a crosslinking co-agent used in golf balls, transmission belts, and other applications.
Resin Solutions, headquartered in Exton, Pennsylvania, will be an industry-leading specialty functional additives producer.
The transaction, which is expected to close later this year, marks the second investment out of Pacific Avenue Fund I, L.P., the first being Sunrich Products, a carve out of SunOpta and an industry-leading integrated provider of farm-to-product sunflower seeds and other snacks.