NEW YORK—Arsenal Capital Partners has acquired International Fiber Corp., a producer of cellulose-based insoluble fiber products, from Swander Pace Capital.
IFC, headquartered in North Tonawanda, N.Y., makes insoluble fiber products used heavily in food and industrial applications. On the industrial side, the fiber is used to strengthen rubber used in belts and hoses, to thicken paint, for filtration and to control viscosity in thermoplastics.
The company has facilities in North Tonawanda; Urbana and Oberlin, Ohio; Nitro, W.Va.; and Temse, Belgium.
Ken Blackburn, an Arsenal senior advisor, will become CEO of IFC. He previously held executive posts with Arkema Corp., FMC Corp. and ITT Rayonier Inc. He said IFC is well positioned for growth in the U.S. and international markets.
The acquisition is Arsenal's eighth in 2013.