Epoxy
October 21, 2020
Another Polytek Acquisition
Arsenal’s Polytek Acquires Incredible Solutions Easton, PA & Crystal River, FL – October 20, 2020 – Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making, casting, and coating applications, announced today the acquisition of Incredible Solutions. Polytek is a portfolio company of Arsenal Capital Partners.
Founded in 2017 and located in Crystal River, Florida, Incredible Solutions supplies epoxy coating and casting systems that are used to coat wood bars and table tops, create decorative surfaces and mixed-media furniture such as river tables, and complete a variety of other works of art and craft.
Incredible Solutions will join Polytek’s consumer brand portfolio and further expand the company’s offering of coating and casting solutions that are formulated specifically for do-it-yourself and artistic communities. These brands offer user-friendly products and accessories that are available direct-to-consumer via a variety of convenient channels, including company-operated e-commerce sites, mass retail, and online marketplaces.
Doug Lorenz, CEO of Polytek, commented “Incredible Solutions has had tremendous success in their first three years of business and we’re very excited to bring them onto the Polytek team and continue to grow with them in the coming years.”
Charlie Ives, owner of Incredible Solutions added, “We are really looking forward to teaming up and collaborating with Polytek. Ultimately, our goal is to continue to serve our customers to the best of our ability while introducing new product options and creative ways to use them.”
Charlie Ives will remain in an active role within the Incredible Solutions brand, and the two companies will continue to do business under their existing names. Genesis Capital, LLC acted as the financial advisor to Polytek.
About Polytek® Development Corp. Founded in 1984, Polytek® Development Corp. is headquartered in Easton, PA with operations in Pomona, CA, Galesburg, MI, Franklin, IN, and Grants Pass, OR. Polytek is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers, and board materials. These systems are used primarily in mold making, casting, and coating applications in industrial and consumer sectors, including construction and restoration, arts and crafts, DIY, product design and manufacturing, entertainment, and education. Polytek® brands include Raw Material Suppliers, Alumilite, BCC Products, ETI Technology, Inc., Pro Marine Supplies, and Stone Coat Countertops. corporation.polytek.com
About Incredible Solutions Located in Crystal River, FL, and founded by a husband and wife duo in 2017, Incredible Solutions was established to service a rapidly growing do-it-yourself epoxy market. The company quickly grew into a top seller on e-commerce platforms while maintaining the customer service hallmarks of a small, family-run business. Today, Incredible Solutions continues to provide user-friendly epoxy coating and casting solutions to do-it-yourselfers, artists, and craftsmen. www.incrediblesolutionsonline.com
October 21, 2020
Another Polytek Acquisition
Arsenal’s Polytek Acquires Incredible Solutions Easton, PA & Crystal River, FL – October 20, 2020 – Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making, casting, and coating applications, announced today the acquisition of Incredible Solutions. Polytek is a portfolio company of Arsenal Capital Partners.
Founded in 2017 and located in Crystal River, Florida, Incredible Solutions supplies epoxy coating and casting systems that are used to coat wood bars and table tops, create decorative surfaces and mixed-media furniture such as river tables, and complete a variety of other works of art and craft.
Incredible Solutions will join Polytek’s consumer brand portfolio and further expand the company’s offering of coating and casting solutions that are formulated specifically for do-it-yourself and artistic communities. These brands offer user-friendly products and accessories that are available direct-to-consumer via a variety of convenient channels, including company-operated e-commerce sites, mass retail, and online marketplaces.
Doug Lorenz, CEO of Polytek, commented “Incredible Solutions has had tremendous success in their first three years of business and we’re very excited to bring them onto the Polytek team and continue to grow with them in the coming years.”
Charlie Ives, owner of Incredible Solutions added, “We are really looking forward to teaming up and collaborating with Polytek. Ultimately, our goal is to continue to serve our customers to the best of our ability while introducing new product options and creative ways to use them.”
Charlie Ives will remain in an active role within the Incredible Solutions brand, and the two companies will continue to do business under their existing names. Genesis Capital, LLC acted as the financial advisor to Polytek.
About Polytek® Development Corp. Founded in 1984, Polytek® Development Corp. is headquartered in Easton, PA with operations in Pomona, CA, Galesburg, MI, Franklin, IN, and Grants Pass, OR. Polytek is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers, and board materials. These systems are used primarily in mold making, casting, and coating applications in industrial and consumer sectors, including construction and restoration, arts and crafts, DIY, product design and manufacturing, entertainment, and education. Polytek® brands include Raw Material Suppliers, Alumilite, BCC Products, ETI Technology, Inc., Pro Marine Supplies, and Stone Coat Countertops. corporation.polytek.com
About Incredible Solutions Located in Crystal River, FL, and founded by a husband and wife duo in 2017, Incredible Solutions was established to service a rapidly growing do-it-yourself epoxy market. The company quickly grew into a top seller on e-commerce platforms while maintaining the customer service hallmarks of a small, family-run business. Today, Incredible Solutions continues to provide user-friendly epoxy coating and casting solutions to do-it-yourselfers, artists, and craftsmen. www.incrediblesolutionsonline.com
October 20, 2020
Auto Sales Rebound
October 20, 2020
Auto Sales Rebound
October 19, 2020
Airline Passengers Top One Million on Sunday
TSA Passenger Traffic Tops One Million Sunday As Return To Normalcy Continues
by Tyler Durden Mon, 10/19/2020 – 15:35
Shares of US airlines lifted off Monday morning after data this past weekend showed passenger numbers hit seven-month highs as air travelers take advantage of super low-cost airfare despite the reemergence of COVID-19.
TSA published a press release early Monday saying it “screened over 1 million passengers Sunday, representing the highest number of passengers screened at TSA checkpoints since March 17, 2020.”
The release continued: “In addition to screening one million passengers in a single day, TSA screened 6.1 million passengers at checkpoints nationwide during the week (Mon., October 12 through Sun., October 18). That weekly volume also represents the highest weekly volume for TSA since the start of the COVID-19 pandemic.”h/t Reuters
According to TSA spokesperson Lisa Farbstein, airport security checkpoints nationwide screened 1,031,505 people on Sunday – this is still 60% lower than one year ago. https://platform.twitter.com/embed/index.html?dnt=false&embedId=twitter-widget-0&frame=false&hideCard=false&hideThread=false&id=1318157136602550274&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpersonal-finance%2Ftsa-passenger-traffic-tops-million-sunday-return-normalcy-continues&siteScreenName=zerohedge&theme=light&widgetsVersion=ed20a2b%3A1601588405575&width=550px
TSA numbers this month show a return to normalcy, about eight months since the virus pandemic began. So far, the numbers this month show a rapid increase in travelers:
- Oct. 18 – 1,031,505 people screened
- October 14 – 717,940 people screened
- October 7 – 668,519 people screened
Readers may recall the lowest number of people screened at US airports was 87,534 on April 14, during lockdowns, where much of the airline and travel and tourism industry ground to a halt.
The increase in air travel has occurred as US virus cases topped 70,000 last Friday, the highest level since July. Single-day caseload records were seen in Wyoming, Minnesota, Wisconsin, West Virginia, North Dakota, Indiana, New Mexico, Utah, and Colorado.
As we’ve pointed out to our millennial readership, roundtrip airfare has never been cheaper – and with the virus mainly affecting the older segments of the population – now could be the time to travel.
Goldman Sach’s Jan Hatzius compiled travel and tourism high-frequency data that suggests US air travel is steadily increasing from the April-May trough. US international passenger arrivals at the top five airports are also rising. Global air travel has rebounded as well.
Another proxy of the travel and tourism rebound is Airbnb searches, which rebounded and recovered back to the February baseline but have since slumped into fall.
Robinhood traders have spent the last seven months panic buying JETS ETF, with hopes the airline industry will recover in a “V-shaped” fashion.
The question traders have on their mind: How long will it take for the airline industry to recover?
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