Pacific Avenue Capital Partners Forms Resin Solutions LLC to Acquire Three Product Lines From TotalEnergies' Cray Valley
LOS ANGELES, April 13, 2023 (Newswire.com) - Pacific Avenue Capital Partners ("Pacific Avenue"), a Los Angeles-based private investment firm, is excited to announce the recent formation of Resin Solutions LLC ("Resin Solutions"). Resin Solutions has signed an agreement to acquire three product lines (PolyBD®, Wingtack®, and Dymalink®) developed by Cray Valley, TotalEnergies' resin production affiliate. The transaction, a carve out, includes four production sites in the United States, one production site in Italy, and global customer relationships across diversified end markets.
The three acquired product lines are market leaders in functional additives. Specifically, PolyBD® is used as a polyol for polyurethane in high-performance adhesives, sealants, and aerospace propellants. Wingtack® is a tackifying resin used in various applications including packaging, tapes & labels, tires, construction sealants, and coatings. Dymalink® is a crosslinking co-agent used in golf balls, transmission belts, and other applications.
Resin Solutions, headquartered in Exton, Pennsylvania, will be an industry-leading specialty functional additives producer. The investment will be made out of Pacific Avenue Fund I, L.P.
The acquisition of Resin Solutions is another example of Pacific Avenue's ability to partner with corporate sellers to successfully execute carve outs of non-core business units across a wide variety of industries. Under Pacific Avenue's stewardship, Resin Solutions will focus its efforts and capital, further serving customer needs and executing on the numerous growth prospects available in the functional additives marketplace.
"We are excited about the Resin Solutions investment and the Company's ability to capitalize on the growing demand for functional additives in the adhesives, sealants, aerospace, electronics, and other end markets. This acquisition continues to demonstrate that Pacific Avenue is the go-to buyer for corporate sellers. Our ability to navigate this complex global transaction was a key differentiator to the corporate parent. We are excited to partner with the Resin Solutions leadership team and look forward to investing behind the business to continue to meet the needs of our customers." - Chris Sznewajs, Founder and Managing Partner of Pacific Avenue
This transaction, which is expected to close later this year, marks the second investment out of Pacific Avenue Fund I, L.P., the first being Sunrich Products, a carve out of SunOpta and an industry-leading integrated provider of farm-to-product sunflower seeds and other nutritious snacks.
In conjunction with the transaction, Jefferies LLC served as financial advisor to Pacific Avenue.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners is a Los Angeles-based private investment firm focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive strategic change and assist businesses in reaching their full potential. For more information, please visit www.pacificavenuecapital.com.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Its more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Source: Pacific Avenue Capital Partners