Arsenal Capital Partners purchases AvCarb to support decarbonization technologies
Arsenal brings scale, resources and experience to AvCarb’s carbon fiber products for hydrogen fuel cells and electrolyzers, flow batteries and hydrogen storage.
Photo Credit: Getty Images
Arsenal Capital Partners (N.Y., U.S.), a private equity firm that specializes in investments in industrial and healthcare companies, announced on Nov. 2 that it has acquired AvCarb Material Solutions (Lowell, Mass., U.S.). Terms of the transaction were not disclosed.
AvCarb is a manufacturer of application-enabled carbon fiber components for hydrogen fuel cells and electrolyzers, flow batteries, automotive and industrial applications. Its main products include engineered carbon fiber-based products, such as advanced gas diffusion layers (GDL) and molded graphite layers, woven carbon fiber fabrics and carbon fiber felts used in electrochemical and friction applications.
“Arsenal’s deep market expertise, and track record of growing industrial technology businesses make them an ideal partner for AvCarb’s next phase of growth,” notes Roger Masse, CEO of AvCarb.
According to AvCarb’s president, Guy Ebbrell, as the company’s customers accelerate the deployment of decarbonization technologies such as fuel cells, its needs for production capacity, development support and customer service are increasing rapidly. “Arsenal brings scale, resources and experience that will ensure AvCarb continues to support customer success across product lines and around the world,” Ebbrell says.
Roy Seroussi, an investment partner of Arsenal adds that AvCarb’s highly engineered composite materials will also enable the production of hydrogen, the conversion of hydrogen to electricity and the storage of energy.
Houlihan Lokey served as financial advisor to AvCarb.
