Arcline Completes 2nd IPS Addition

Integrated Polymer Solutions (IPS), a portfolio company of Arcline Investment Management, has acquired Swift Textile Metalizing. Arcline acquired IPS from Industrial Growth Partners in July 2019.

Swift Textile manufactures metalized fabrics that are used in electromagnetic and radio frequency interference shielding applications in the aerospace and defense sectors. Swift’s products – made from conductive and reflective materials including woven, non-woven and knitted fabrics with a durable nylon base – are also used in the medical, telecommunications, and electronic sectors.

The company’s products include EMI and RFI shielded gaskets, tapes and cable wraps, curtains, doors, tents, and grounding straps. Bloomfield, Connecticut-based Swift is led by Steve Sigmon, its owner and president, and has 64 employees.

Integrated Polymer Solutions (IPS) manufactures elastomeric components and tools that are used in the aerospace, military, biopharma and specialty industrial markets. The company’s products include elastomeric tooling, seals, gaskets, electromagnetic and radio frequency interference shielding, thermal shielding, and encapsulated O-rings. IPS has an inventory of more than 6,000 custom tools that are used to produce more than 12,000 components, including thousands of propriety designs, which are sold to more than 1,100 customers. Company-owned brands include Rubbercraft, Sanders Composites, NES, Creavy Seal and Fabritech. IPS, led by CEO Rich McManus, is headquartered in Long Beach, California with additional facilities in Pennsylvania and the UK.

“Since we first met Steve and were introduced to Swift, we have continued to be impressed by not only the quality of his company, but also the experience, depth, and dedication of his team,” said Mr. McManus. “It is truly an exceptional organization, and we take the responsibility of partnering with Steve and his team for Swift’s next chapter very seriously and with great humility. Together we are excited to continue building a world-class materials science business.”

Earlier this year IPS acquired IRP Group, a California-based designer and manufacturer of elastomeric sealing components used by OEMs in the medical device, aerospace and defense sectors.

Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include defense and aerospace; infrastructure services; industrial and medical technology; life sciences and specialty materials. In February 2021, Arcline closed its second fund, Arcline Capital Partners II LP, with total capital commitments of $2.75 billion. Arcline was founded in September 2018 and has offices in San Francisco and New York.

© 2021 Private Equity Professional | July 1, 2021