NEW YORK, July 16, 2018 - Arsenal Capital Partners (“Arsenal”), a leading private equity firm that invests in middle-market specialty industrials and healthcare services companies, today announced that it has completed the sale of Inhance Technologies (“Inhance”), a provider of fluorine-based material technologies, to Aurora Capital Partners (“Aurora”). Financial terms of the transaction were not disclosed.
In 2012, Arsenal partnered with Monty Ballard and Bill Brown, the founders of Inhance. During Arsenal’s ownership, the company recruited an experienced and deep management team, leveraged its technologies in new end markets, expanded its customer base, and established manufacturing presence in Brazil, Australia, and Mexico to serve its global customers better.
Brian Orkin, an Investment Partner of Arsenal Capital, said, “Inhance was a characteristic Arsenal investment where we partnered with a strong technology-driven company, leveraged Arsenal’s expertise to support the management team, and built-out the company’s market capabilities and global infrastructure.”
Roy Seroussi, an Investment Partner of Arsenal Capital, added, “The company is well positioned to continue its track record of driving increased adoption of its best-in-class solutions, innovating new offerings, and growing in new geographies. We are grateful to CEO Andy Thompson and his management team for the successful partnership and are pleased with what we were able to accomplish together.”
Andy Thompson, CEO and President of Inhance, said, “Inhance flourished under Arsenal’s ownership, thanks to its support and collaborative approach. It has been a pleasure working with the Arsenal team as we built the company and grew internationally. We look forward to our new partnership with Aurora.”
Bill Brown, co-founder of Inhance, said, “Monty and I are very pleased to have partnered with Arsenal. The knowledge and resources the Arsenal team brought to the company will continue to grow the business rapidly beyond Arsenal’s ownership.”
Baird acted as exclusive financial advisor, and Kirkland & Ellis LLP acted as legal advisor to Arsenal and Inhance.
About Inhance Technologies
Founded in 1983, Inhance Technologies focuses on the transformation of plastics and composites for higher performance through its Fluoro-Seal Process™, Reactive Gas Technology™, and DuraBloc Process™. The company offers Barrier Technology, Surface Modification, and Performance Additives solutions that serve the crop protection, fuel systems, automotive, healthcare, consumer, and industrial markets from numerous locations throughout the United States, Canada, Mexico, and overseas. More information can be found at www.inhanceproducts.com.
About Arsenal Capital Partners
Established in 2000, Arsenal Capital Partners is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare business services companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 - $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For additional information on Arsenal, visit www.arsenalcapital.com.