Arsenal Capital Partners and BayPine acquire POLYWOOD to enhance sustainable outdoor living products

In a landmark transaction whose details remain undisclosed, an investor group led by Arsenal Capital Partners, in collaboration with BayPine LP, has officially acquired POLYWOOD, LLC from Mayfair Capital Partners. This acquisition marks a significant milestone in the outdoor living products industry, particularly within the fast-growing high-density polyethylene (HDPE) market. POLYWOOD, headquartered in Syracuse, Indiana, stands as a pioneer and leader in this sector, celebrated for its sustainable, durable, and infinitely recyclable outdoor furniture.

POLYWOOD’s foundation in 1990 by CEO Doug Rassi revolutionized the outdoor furniture market with its environmentally friendly approach. Utilizing recycled plastics, the company has maintained a circular, 99% waste-free manufacturing process, aligning with its commitment to product design, innovation, and sustainability. The company’s omnichannel strategy, combined with its build-to-order production model, has allowed POLYWOOD to offer over 25,000 unique product options to consumers rapidly and efficiently.

Doug Rassi expressed enthusiasm about the new partnership with Arsenal and BayPine, highlighting the complementary strengths that each investor brings to the table. Arsenal’s expertise in polymer processing and BayPine’s digital capabilities are expected to drive POLYWOOD’s next growth phase. George Abd and Matthew Teller from Arsenal pointed to POLYWOOD’s impressive growth trajectory and industry leadership, underscoring the potential for further innovation and market expansion. Similarly, Steve Ko from BayPine emphasized the brand’s pioneering status and sustainable manufacturing processes as key differentiators in the market.

The acquisition was facilitated by Piper Sandler & Co. and Moelis & Company LLC, serving as financial advisors to POLYWOOD, with Nelson Mullins Riley & Scarborough LLP providing legal counsel. Arsenal and BayPine received financial advisory services from Baird and legal advice from Kirkland & Ellis LLP.

This acquisition by Arsenal Capital Partners and BayPine LP signifies a strategic endorsement of POLYWOOD’s innovative and sustainable approach to outdoor living products. By leveraging Arsenal’s industry knowledge and BayPine’s digital expertise, POLYWOOD is poised to enhance its market position, expand its product offerings, and further its commitment to sustainability. This move reflects a growing trend in the industry towards environmentally responsible business practices and could set a new standard for the development and manufacture of outdoor living products. As POLYWOOD enters this new chapter, its focus on quality, sustainability, and innovation is likely to attract even greater consumer and investor interest in the burgeoning field of eco-friendly outdoor furniture.