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TORONTO (July 11, 2007): Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, has completed its purchase of Dynea North America from Dynea Chemicals OY of Finland. Financial details of the transaction are not disclosed.
Teachers’ Private Capital has become the sole financial owner of Mississauga-based Dynea North America. The company, a specialty resins and paper overlays producer, is renamed Arclin, effective immediately.
“We’re proud to be supporting Dynea North America’s emergence as an independent North American owned and operated company,” said Jim Leech, Senior Vice-President, Teachers’ Private Capital. “We look forward to working with the solid management team, led by CEO Garry McClean, and employees to build the new Arclin,” Mr. Leech added.
Garry McClean has led Dynea North America since 2005. “We’re excited to begin a new era as a stand-alone company focused solely on the needs of our valued customers and suppliers in North America,” said Mr. McClean, CEO. “As a trusted industry partner we will continue working to deliver new, innovative, market-driven solutions that add downstream value,” he added.
About Arclin
Arclin is a leading provider of bonding and surfacing products for engineered materials – commonly known as resins and overlays – serving a variety of markets including engineered wood and panel products, building materials and specialty industrial applications. The company has annual sales of more than $650 million US and more than 750 employees in 15 facilities in the United States, Canada and Mexico.
About Teachers’ Private Capital
Teachers’ Private Capital is ranked 20th in the world in total capital deployed over the past five years (February 2002 – April 2007) by Private Equity International in its PEI 50 ranking of the world’s largest private equity firms. It is the private investment arm of the CDN$106 billion Ontario Teachers’ Pension Plan, an independent corporation responsible for investing the fund and administering the pensions of Ontario’s 271,000 active and retired teachers. With more than $16 billion in assets, Teachers’ Private Capital is one of North America’s largest private investors, providing equity and debt capital for large and mid-sized companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide.
Contact:
Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
(416) 730-5347
deborah_allan@otpp.com |
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