NEW YORK—Arsenal Capital Partners has made a majority investment in Peterson Chemical Technology to further bolster its recently formed Elite Comfort Solutions business.
It's the third major investment Arsenal has made in a recently launched polyurethane foam operation. Another transaction is awaiting regulatory approval. All four are now part of, or will be part of, the Elite Comfort operation, which a spokesman said was formed in March.
Other companies that make up the business are Pacific Urethanes L.L.C. and Elite Foam Inc. The private equity firm acquired a majority interest in both recently. Arsenal also signed a definitive agreement to acquire certain foam assets from Hickory Springs Manufacturing Co. and is waiting for that deal to close.
Based in Fort Smith, Ark., Peterson Chemical is a global company specializing in polyurethane foam products through additives, specialty polyols, systems and applications development, Arsenal said.
Peterson Chemical is a leading inventor of innovative open cello viscoelastic foam and gel-infused foam technologies, along with a wide range of specialty polyols and additives that have changed the look and performance of specialty bedding products.