Polytek Development Corp., a Easton, Pennsylvania-based manufacturer of liquid mold rubbers and casting plastics, completed a recapitalization with Morgenthaler Private Equity.
The amount of the deal was not disclosed. Morgenthaler Private Equity partnered in the transaction with existing shareholders and the senior management team, including retiring President David Salisbury, who will assume the role of Chairman of the Board of Directors.
Madison Capital Funding LLC provided senior debt financing to support the transaction.
Founded in 1984, Polytek provides customers with proprietary chemicals to create flexible molds in order to reproduce highly-detailed, complex objects in a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping.
FinSMEs
21/08/2015