March 28, 2016 Updated 3/28/2016
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Hickory Springs Manufacturing Co. Arsenal Capital Partners’ acquisitions include the foam business of Hickory Springs Manufacturing Co.
Arsenal Capital Partners has made three more polyurethane foam acquisitions and will combine them into a single business.
The most recent acquisitions made by New York-based Arsenal are:
• Pacific Urethanes LLC of Ontario, Calif.
• A majority stake in Elite Foam Inc. of Newnan, Ga.
• The foam production assets of Hickory Springs Manufacturing Co. of Conover, N.C.
Arsenal will combine the three assets into a new unit called Elite Comfort Solutions, which will have 10 specialty foam production sites nationwide. The acquired businesses make PU foam for bedding, home furnishings, furniture, medical goods and packaging.
Arsenal officials announced the recent moves in a March 28 news release. No purchase prices were disclosed. Arsenal now has made 19 plastics-related acquisitions since 2012.
Earlier in March, Arsenal’s Accella Performance Materials unit bought the spray foam division of Quadrant Urethane technologies of Dallas. In late February, Arsenal acquired Flow Polymers LLC, an additives maker based in Cleveland.
