Polymer Solutions Group, one of the leading specialty polymers and additives manufacturers has reportedly acquired the Phoenix Chemical Company. The financial terms of the buyout have not been specified by either company so far.
For the uninitiated, Phoenix Chemical is one of the major players in bulk and specialty chemicals industry that focuses on the manufacturing and distribution of specialty chemicals for textile, carpet, industrial, household and institutional chemical markets. With the acquisition of Phoenix Chemicals, Polymer Solutions Group (PSG) is expected to substantially strengthen its stance in the chemicals domain, claim experts. They further opine that this buyout will complement PSG’s other businesses like Peach State Labs, SASCO Chemical, and Flow Polymers.
PSG President and CEO, Mike Ivany has been reported to be expressing his delight on this addition of Phoenix Chemicals to PSG, as it would not only consolidate PSG’s position in the bulk and specialty chemicals industry but would also help the company to further build their Functional Materials Business Unit. John Bryant, President of Phoenix Chemical will continue to remain the lead for Phoenix Chemical, a move that has been welcomed by PSG as this will further assist in building and supporting the PSG platform.
John Bryant also reportedly hailed the sale of Phoenix Chemical to PSG, as combining Phoenix Chemical with the PSG platform will bring forth expanded manufacturing and technological resources to take on Phoenix’s chemical business further. Bryant also hoped that the sale will help Phoenix Chemical to add value to their customer relationships and offerings.
The acquisition of Phoenix Chemical by PSG has been facilitated by Arsenal Capital Partners – an equity firm that specializes in investing in industry sectors. Analysts have apparently claimed that PSG’s accrual of Phoenix Chemical is a rather strategic move that will evidently have significant effects on bulk and specialty chemicals industry.