Gemspring Capital Completes Acquisition of The Goodyear Tire & Rubber Company's Polymer Chemicals Business

Headquartered in Ohio, the Polymer Chemical Business is a leading producer of synthetic rubber with a broad product portfolio serving customers across North America. The Company supports an extensive base of world-class customers, including many of the leading tire manufacturers, and delivers differentiated solutions across diverse end markets such as food, medical, sporting goods, thermoset plastics, adhesives, and packaging.

Mathew Wallace, Managing Director at Gemspring, commented, "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."

Tesham Gor, a Gemspring Executive Advisor and incoming Chief Executive Officer, added, "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."

Piper Sandler & Co. acted as lead financial advisor, Greenhill & Co. served as a financial advisor, and Kirkland & Ellis LLP served as legal counsel to Gemspring on the transaction.

About Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm with $5.1 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2.0 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. For more information, visit www.gemspring.com.

CONTACT: Matt Wallace, mwallace@gemspring.com

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SOURCE Gemspring Capital