Polycorp, an Elora, Ontario, Canada-based manufacturer of engineered elastomer solutions, received an investment from Arsenal Capital Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Founded in in 1996 by Peter Snucins, Polycorp serves its global customer base with rubber- and polyurethane- based elastomer solutions, that help reduce corrosion, abrasion, vibration, and noise. Its engineering and design services, combined with its molding, calendering, and extrusion capabilities, enable the company to serve infrastructure and industrial focused applications for the mineral processing, rail, and protective linings industries. Polycorp serves critical, high cost of failure applications across infrastructure and industrial focused markets, globally across 35+ countries worldwide.
The company employs approximately 250 full-time staff.
Commenting on the news, Peter Snucins said: “The transaction with Arsenal will accelerate Polycorp’s strategic growth initiatives and enable additional investment in our manufacturing and R&D capabilities, human capital, and strategic acquisitions.”