Polymer Solutions acquires Phoenix Chemical
Polymer Solutions Group acquired Phoenix Chemical Co. Inc. as part of an effort to strengthen its position in the soft floor market and to broaden the reach of its product line
Based in US, PSG is a leading manufacturer of specialty polymers and additives and a portfolio company of venture capital firm Arsenal Capital Partners. The acquisition of Phoenix Chemical was the latest in a string of purchases for PSG, which has eight manufac- turing facilities.
Phoenix Chemical is a specialty chemical manufacturer and distributor focused on the carpet, textile, water treatment, and household, industrial and institutional chemicals markets. President and CEO Mike Ivany said, the acquisition allowed PSG to gain further in-house knowledge in the formulated chemical systems area that allows for enhanced processes, performance and protection for its products.
Branded as Sure Mix by PSG, the company is building a new plant in Albany that will manufacture silica filler. It is expected to be finished by the fourth quarter of 2018 and will include nearly 20,000 tons of capacity at the site of the former headquarters of Sasco. This investment in silica filler represents a significant growth opportunity for the company, Ivany said.