Mayfair Capital Partners sells Polywood to Arsenal Capital Partners and BayPine

Mayfair Capital Partners, the private investment division of Oxford Financial Group, has sold its portfolio company Polywood to an investor group led by Arsenal Capital Partners and BayPine LP. Financial terms were not disclosed.

Transaction Snapshot

  • Deal value: N/A
  • Deal type: Acquisition
  • Investors: Investor group led by Arsenal Capital Partners and BayPine

Founded in 1990 and based in Syracuse, Indiana, Polywood is a leading manufacturer of high-density polyethylene (HDPE) outdoor living products in North America. The company pioneered the use of recycled plastics to create all-weather outdoor furniture over 30 years ago.

Products include Adirondack chairs, rocking chairs, benches, swings, dining sets, and deep seating used in residential and commercial settings. The company sells through a digitally-led omnichannel strategy.

During Mayfair's ownership, Polywood expanded its product assortment, scaled production in Indiana and North Carolina facilities, and drove organic growth through an omnichannel sales model. The company currently has 1,650 employees across 2 million sq ft of leased manufacturing space.

Polywood co-founder and CEO Doug Rassi expressed excitement about the next phase of growth, citing Arsenal's expertise in polymer processing and BayPine's focus on developing digital capabilities.

Arsenal sees significant growth opportunities ahead for Polywood and whitespace in the HDPE market. They plan to invest behind the company to drive organic and inorganic initiatives.

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