Goodyear Chemical's New Chapter with Gemspring Capital
Deal News | May 22, 2025 | Gemspring Capital
Gemspring Capital Management, a middle-market private equity firm, announced its definitive agreement to acquire The Goodyear Tire & Rubber Company's polymer chemicals business. The acquisition involves two operating plants in Houston and Beaumont, Texas, and an R&D facility in Akron, Ohio. Goodyear will retain chemical facilities in Niagara Falls, New York, and Bayport, Texas. The transaction, expected to close by late 2025, awaits regulatory approval. Wealth of relationships with top tire manufacturers and industry-wide applications is one aspect Gemspring executives are eager to advance. Piper Sandler & Co. and Greenhill & Co. served as financial advisors, with Kirkland & Ellis LLP as legal counsel.
Sectors
- Chemical Industry
- Private Equity
- Manufacturing
Geography
- United States – The transaction involves assets and operations located in Texas and Ohio, USA.
- North America – Goodyear Chemical, headquartered in Ohio, serves a broad North American market and customer base.
Industry
- Chemical Industry – Goodyear's polymer chemicals business is primarily engaged in the production of synthetic rubber and other chemicals.
- Private Equity – The transaction involves a private equity firm, Gemspring Capital, acquiring a business segment from a public company.
- Manufacturing – The acquisition includes manufacturing plants producing synthetic rubber and related products for various industries.
Financials
- Not Disclosed – The financial terms of the transaction have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gemspring Capital Management, LLC | Buyer | Company | A middle-market private equity firm acquiring Goodyear's polymer chemicals business. |
| The Goodyear Tire & Rubber Company | Seller | Company | The company selling its polymer chemicals business to Gemspring Capital. |
| Goodyear Chemical | Target | Business Unit | A division of Goodyear involved in the production of synthetic rubber and chemicals. |
| Piper Sandler & Co. | Financial Advisor | Company | Acted as lead financial advisor to Gemspring Capital on the transaction. |
| Greenhill & Co. | Financial Advisor | Company | Served as financial advisor in the transaction. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal counsel to Gemspring Capital for the acquisition. |
| Mathew Wallace | Managing Director | Person | A managing director at Gemspring Capital who commented on the acquisition. |
| Tesham Gor | Prospective CEO | Person | A Gemspring Executive Advisor expected to become CEO of the standalone Goodyear Chemicals business. |