The amount of the deal was not disclosed.
Peterson Chemical Technology is advancing polyurethane foam products through additives, specialty polyols, systems, and applications development. The company, which has been providing new technologies to multiple entities in various foam industries for over a decade, is the inventor of innovative open-cell viscoelastic foam and gel-infused foam technologies, along with a wide range of specialty polyols and additives.
Following the deal, Peterson Chemical will remain as an independent company within the Elite Comfort Solutions platform, which has been recently created by Arsenal to include investments in: Pacific Urethanes LLC (Pacific Urethanes) and Elite Foam Inc. (Elite Foam), and certain foam production assets (HSM Foam) of Hickory Springs Manufacturing Company (subject to customary closing conditions).
Bruce Peterson, President of Peterson Chemical, will continue to oversee the company and drive its product development efforts.