Gemspring Capital to Acquire Goodyear Chemical

Group 1 - Gemspring Capital Management has entered into a definitive agreement to acquire Goodyear Tire & Rubber Company's polymer chemicals business, Goodyear Chemical, which includes two operating plants in Texas and a research facility in Ohio [1][2] - Goodyear Chemical is a leading producer of synthetic rubber in North America, serving a diverse range of industries beyond tires, including food, medical, and packaging [2] - The acquisition aims to unlock Goodyear Chemical's potential as a standalone business, enhancing its growth and innovation capabilities while maintaining strong customer relationships and a robust product portfolio [3] Group 2 - The transaction is subject to regulatory approval and is expected to close by late 2025 [3] - Gemspring Capital manages $3.8 billion in capital and focuses on providing flexible capital solutions to middle-market companies across various sectors [5]