EASTON, Pa.—Materials maker Polytek Development Corp. has acquired Specialty Resin & Chemical L.L.C. for an undisclosed price.
Easton-based Polytek makes specialty polymers for coating, mold making and casting applications. The firm is owned by investment firm Arsenal Capital Partners of New York.
Specialty R&C of Dowagiac, Mich., makes polyurethanes and epoxy resins for mold making, casting, and coating products. The firm was founded in 2007.
In a news release, officials said that Specialty R&C's products "fit in well alongside Polytek's existing consumer brands because of their strong focus on customer service and dedication to providing products specifically designed for the hobby and art communities."
Specialty R&C "is well positioned to serve do-it-yourselfers, hobbyists and small businesses," Polytek CEO Doug Lorenz said.
"They have created a name for themselves among these communities, and we are very excited to help them build and grow upon the great success they have already achieved," he added.
Specialty R&C owner Daniel Wilson will remain in an active role with the business. The two businesses will continue to do business under their existing names.
"Our goals align very closely with Polytek's mission," Wilson said. "We look forward to continuing to support our customers while developing new product options for them."
Polytek operates five U.S. production sites, making PU elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers and board materials. These systems are used primarily in mold making, casting, and coating applications in industrial and consumer sectors, including construction and restoration, arts and crafts, and product design.
In addition to PU and epoxies, Specialty R&C makes rubber, silicone rubber and related accessories.
Arsenal has raised $5.3 billion in investment funding since opening in 2000. Its plastics-related holdings include materials maker Chroma Color Corp. of McHenry, Ill., and film products maker Revolution Co. of Little Rock, Ark. Arsenal has made several acquisitions through Chroma and Revolution.