Pacific Avenue Capital Partners (“Pacific Avenue”), a Los Angeles-based private investment firm, announced the recent formation of Resin Solutions LLC (“Resin Solutions”). Resin Solutions has signed an agreement to acquire Cray, the resin manufacturing subsidiary of TotalEnergies Three product lines (PolyBD®, Wingtack® and Dymalink®) developed by Valley. The transaction is a spin-off that includes four manufacturing sites in the United States, one in Italy, and a global network of customer relationships across diverse end markets.
The three product lines acquired are market leaders in functional additives. Specifically, PolyBD® is used as a polyol for polyurethanes in applications such as high-performance adhesives and sealants. Wingtack® is a tackifying resin used in a variety of applications including packaging, tapes and labels, tires, construction sealants and coatings. Dymalink® is a crosslinking aid used in golf balls, drive belts and other applications.
Resin Solutions, headquartered in Exton, Pennsylvania, will become an industry-leading producer of specialty performance additives. The investment will be funded by Pacific Avenue Fund I, L.P. contributed.
The acquisition of Resin Solutions was Pacific Another example of Avenue working with enterprise sellers, it successfully executed the spin-off of non-core business units in different industries. Under the management of Pacific Avenue, Resin Solutions will concentrate energy and funds to further meet customer needs and achieve greater development in the functional additive market.
Pacific Avenue founder and managing partner Chris Sznewajs said: We are excited about Solutions' investment and the company's ability to capitalize on the growing demand for functional additives in adhesives, sealants, aerospace, electronics and other end markets. This acquisition once again demonstrates that Pacific Avenue is the buyer of choice for enterprise sellers. Our ability to navigate this complex global transaction is important to corporate parent companies. We are excited to partner with Resin Solutions' leadership team and look forward to continuing to invest in this business after completion to continue to meet the needs of our clients. "
The transaction is expected to close later this year.
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