3 Aug 2023
Newly formed Resin Solutions LLC acquires Wingtack, Poly Bd and Dymalink business lines
Paris – Cray Valley SA has sold its Wingtack, Poly Bd and Dymalink business lines to Resin Solutions LLC, owned by Pacific Avenue Capital Partners, the companies have announced.
TotalEnergies had previously announced its acceptance of an offer from Pacific Avenue Capital Partners for the three product lines developed by Cray Valley – its resin production subsidiary.
The sale, which includes four production sites in the US, the Cray Valley Italy affiliate, will allow Cray Valley to focus on its global specialty C4 and pure-monomer resin businesses, said the French group.
Cray Valley’s production of Ricon, Krasol and Cleartack resins will continue at Carling in France, Grand Junction in the US, and Kralupy, Czech Republic, added TotalEnergies' 19 July statement.
Los Angeles private equity firm Pacific Avenue Capital Partners formed Resin Solutions, based in Exton, Pennsylvania, to acquire the three Cray Valley product lines.
Among applications for the acquired product lines: Poly bd is used as a polyol for polyurethane in adhesives and sealants; Wingtack as a tackifying resin in tires, packaging, sealants, and coatings; and Dymalink as a crosslinking co-agent used in the manufacture of golf balls, transmission belts and other products.
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