CRANSTON – Compass Group Equity Partners, based in Missouri, will make an investment of unknown value into Mearthane Products Corp. as it announces a partnership with the Rhode Island manufacturer.
Compass Group, a private equity firm headquartered in St. Louis, partnered with Mearthane for its “long-standing reputation of providing comprehensive design solutions and consistently delivering superior urethane products,” Compass Group Director Bobby Bryan said in a statement.
“We are confident MPC has the right management team and capabilities to capitalize on multiple opportunities for continued expansion in the advanced materials sector,” Bryan continued.
Mearthane, based in Cranston, manufactures custom thermoset polyurethane and silicone components.
A spokesperson for Mearthane said that the monetary value of the investment has not been disclosed, and a Compass spokesperson did not respond to a PBN inquiry.
The Mearthane partnership marks Compass’ fourth active platform investment from its Compass Group Fund II.
Mearthane CEO and President Pete Kaczmarek stated that the partnership will support “the next phase of our growth and diversification strategy.”
“Our vision is to have the broadest set of thermoset polyurethane formulation and processing capabilities in the industry, and Compass shares our passion for this growing market,” Kaczmarek said.
Mearthane has acquired several manufacturers over the past five years, including Snyder Plastics Inc. in Michigan last May, Polyurethane Molding Industries in Woonsocket in 2020 and Creative Urethanes Inc. in Virginia in 2018.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
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