Gemspring Capital Management announced that an affiliate has completed the acquisition of The Goodyear Tire & Rubber Company’s polymer chemicals business, a major producer of synthetic rubber and related materials.
The transaction includes two manufacturing plants in Houston and Beaumont, Texas, as well as a research and development facility in Akron, Ohio. Goodyear will retain its facilities in Niagara Falls, New York, and Bayport, Texas, and continue to own the rights to products made at those sites.
The acquired Polymer Chemical Business, headquartered in Ohio, serves a broad customer base across North America. Its diverse portfolio supports industries ranging from food and medical products to adhesives, thermoset plastics, packaging, and sporting goods. The company is recognized for providing customized synthetic rubber solutions to many of the world’s top tire manufacturers.
Gemspring plans to accelerate the company’s growth as a standalone entity, leveraging its manufacturing assets, technical expertise, and relationships across the chemical and materials sector. The firm intends to invest in expanding product capabilities within synthetic rubber markets and adjacent chemical categories through both organic initiatives and strategic acquisitions.
Tesham Gor, a Gemspring Executive Advisor, will serve as the new Chief Executive Officer of the Polymer Chemical Business. The transition marks a significant step in establishing the company as an independent platform for innovation and the development of sustainable materials.
Support: Piper Sandler served as lead financial advisor, Greenhill acted as financial advisor, and Kirkland & Ellis provided legal counsel to Gemspring in connection with the transaction.
KEY QUOTES:
“We look forward to unlocking the Company’s full potential as a standalone business and supporting its next chapter of growth and innovation. We see ample opportunity to expand the Company’s offering by strengthening its capabilities in synthetic rubber markets and expanding into adjacent chemical categories, both organically and through strategic acquisitions. These opportunities will be made possible by the Company’s talented employees, strong customer relationships, and dedicated suppliers.”
Mathew Wallace, Managing Director, Gemspring Capital
“Today marks the beginning of an exciting new chapter for an organization poised to deliver tremendous value to its current and future customers. Our team is unified in its commitment to invest in our people, safety, product development, sustainability, and operational excellence. We will continue to push the boundaries of innovation to redefine what’s possible in polymers and materials science.”
Tesham Gor, Executive Advisor and Incoming Chief Executive Officer, Gemspring Capital
