Arsenal Capital Partners, Inc. (ACP), an American-focused investor in mid-market specialty industry, health care, and financial services companies, acquired the Ferro Corporation's (NYSE: FOE) Fine Chemicals business and named the new company Novolyte Technologies. Novolyte has manufacturing facilities in the US and in Suzhou Industrial Park (SIP) in China; its products include electrolytes and materials used for lithium batteries, ultracapacitors and other energy storage devices, solvents used in a variety of industrial processes and products, electronic materials, polymer ingredients, pharmaceutical and agricultural chemicals. The company's products and technology solutions are an integral part in extensive fields including portable electrical appliance, electric tools, laptops, hybrid electric vehicles (HEV) and electric vehicles.


"This is a signature Arsenal transaction that plays to the core strengths of our firm's operating expertise," said John Televantos, a Principal of Arsenal Capital who leads the firm's specialty chemicals practice. "We aim to add value to Novolyte by capturing new global growth initiatives and building a world-class company."


According to Dr. Steve (Xiaohu) Li, Managing Director in Shanghai office of Arsenal Capital, with the state-of-the-art technologies and leading R&D, manufacturing and managing strength, Novolyte will benefit a lot from the favorable investment, production, and operation environment as well as various preferential policies in SIP to help Arsenal Capital in developing its strong potentials in fine chemicals business and to finally build a global energy technology company in Suzhou.