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Arsenal Capital-backed CPS Performance Materials buys GEO Specialty Chemicals

Arsenal Capital Partners Inc.'s portfolio company CPS Performance Materials Corp. bought Pennsylvania-based specialty chemicals manufacturer GEO Specialty Chemicals Inc. for an undisclosed amount.

GEO CEO Ken Ghazey will join the CPS board.

GEO operates in paints and coatings, water treatment and specialty and construction for coatings, adhesives, medical, water treatment and construction markets. CPS manufactures coatings additives, water treatment chemicals and specialty additives.

The acquisition is expected to widen CPS' product offerings, which will position the company for growth.

The Valence Group served as financial adviser to Arsenal and CPS.