ELORA, Ontario—Polycorp Ltd. is poised for growth thanks to an investment by New York City-based private equity firm Arsenal Capital Partners.
Arsenal, which specializes in investments in industrial and health care companies, completed a majority investment in Polycorp, according to a Jan. 29 press release. Terms of the transaction were not disclosed.
Peter Snucins, founder of Polycorp, said the investment will allow his company to accelerate its strategic growth initiatives "and enable additional investments in our manufacturing and R&D capabilities, human capital and strategic acquisitions."
Elora-based Polycorp is a manufacturer of engineered elastomer solutions and employs about 250 full-time staff. It serves its customers with rubber- and polyurethane-based elastomer solutions that help reduce corrosion, abrasion, vibration and noise for the mineral processing, rail and protective linings industries.
"[Polycorp's] portfolio of capabilities is a natural fit for Arsenal, given our previous successful experiences investing in elastomeric and polymeric technologies, such as rubber and polyurethanes," said Brett Schnieder, an operating partner of Arsenal.
Dan Bruck, a principal of Arsenal, added that the firm looks forward to partnering with Polycorp, "given the company's best-in-class elastomeric technologies and customer service capabilities.
Following the closing, Snucins will remain as an investor and board member of Polycorp.