Private equity firm Arsenal Capital Partners closed on its $115 million acquisition of Spartech LLC from PolyOne Corp.
As part of the sale, Cleveland-based chemical company PolyOne divested its Designed Structures and Solutions segment that includes packaging, visual and structural sheet and rollstock materials.
Upon finalization of the deal Wednesday, New York-based Arsenal renamed the segment Spartech LLC, its name prior to PolyOne’s purchase of Clayton-based Spartech Corp. in 2013 for $393 million. Some operations PolyCorp acquired from Spartech Corp., including compounding, were integrated into other PolyOne divisions and are not part of the sale.
The newly formed Spartech LLC, whose brands include Polycast, Royalite and SoundX, has 15 manufacturing facilities and its headquarters will be in Maryland Heights, Arsenal said in a statement.
Read more: St. Louis Post-Dispatch