Silver Point Leads Financing of Acquisition of Goodyear Chemical by Gemspring Capital

Core Insights - Silver Point Capital announced its role as a Joint Lead Arranger in a $450 million secured term loan financing for Gemspring Capital Management's acquisition of Goodyear Chemical [1][4] - The acquisition includes two chemical facilities located in Houston and Beaumont, Texas, along with a research office in Akron, Ohio, while Goodyear retains its facilities in Niagara Falls, New York, and Bayport, Texas [2] Company Overview - Goodyear Chemical is a prominent producer of synthetic rubber, providing a diverse product portfolio that serves major customers across North America, including leading tire manufacturers [3] - The product offerings from Goodyear Chemical cater to various end markets such as food, medical, sporting goods, thermoset plastics, adhesives, packaging, and other consumer and industrial applications [3] Financial and Operational Details - Gemspring Capital, based in Westport, Connecticut, manages $5.1 billion in capital and focuses on providing flexible capital solutions to middle-market companies with revenues up to $2 billion [5] - Silver Point Capital, founded in 2002, oversees $41 billion in investable assets and has a dedicated Direct Lending business managing over $16 billion, offering customized financing solutions across various industries [6]