Gemspring Capital Completes Acquisition of The Goodyear Tire & Rubber Company's Polymer Chemicals Business

Rhea-AI Summary

Gemspring Capital completed the acquisition of Goodyear (NASDAQ: GT) polymer chemicals business on Nov 3, 2025. The deal transfers two manufacturing plants in Houston and Beaumont, Texas and an R&D facility in Akron, Ohio to a Gemspring affiliate. Goodyear retains chemical facilities in Niagara Falls, NY and Bayport, TX and the rights to products made there. The Polymer Chemical Business serves major tire makers and diverse end markets. Gemspring lists $5.1 billion capital under management; Tesham Gor is incoming CEO. Piper Sandler, Greenhill, and Kirkland & Ellis advised on the transaction.

Positive

• Two Texas plants and Akron R&D transferred to buyer
• Established customer base including leading tire manufacturers
• Gemspring backing with $5.1 billion capital under management

Negative

• Goodyear retains Niagara Falls and Bayport chemical facilities
• Product rights for retained facilities remain with Goodyear

Insights

Private equity deal analyst

Gemspring completed a purchase of Goodyear's Polymer Chemical Business, acquiring two Texas plants and an Akron R&D site.

The transaction transfers ownership of the Polymer Chemical Business, including manufacturing plants in Houston and Beaumont, Texas, and a research and development facility in Akron, Ohio. Goodyear retains its chemical facilities in Niagara Falls, New York and Bayport, Texas and keeps rights to products made at those retained sites. Gemspring is described as having $5.1 billion of capital under management and targets companies with up to $2.0 billion in revenue.

Key dependencies and risks follow directly from the disclosed facts: successful separation of the acquired sites and operations, continuity of the existing customer and supplier relationships, and the stewardship of the Akron R&D capability. The buyer names intention to invest in people, safety, product development, sustainability, and operational excellence, and names an incoming CEO; those are stated plans, not guaranteed outcomes. Monitorable items include integration progress at the two Texas plants and the Akron R&D site, any public statements about retained product rights tied to Niagara Falls and Bayport, and any near-term announcements from Gemspring on strategic investments or follow-on acquisitions within 12 months (as an indicative short-term horizon).

WESTPORT, Conn., Nov. 3, 2025 /PRNewswire/ -- Gemspring Capital Management, LLC ("Gemspring"), a middle-market private equity firm, is pleased to announce that an affiliate has completed the acquisition of The Goodyear Tire & Rubber Company's (NASDAQ: GT) ("Goodyear") polymer chemicals business (the "Polymer Chemical Business" or the "Company").

The acquisition includes two manufacturing plants in Houston and Beaumont, Texas, as well as a research and development facility in Akron, Ohio. Goodyear will retain its chemical facilities in Niagara Falls, New York, and Bayport, Texas, along with the rights to products produced at those locations.

Headquartered in Ohio, the Polymer Chemical Business is a leading producer of synthetic rubber with a broad product portfolio serving customers across North America. The Company supports an extensive base of world-class customers, including many of the leading tire manufacturers, and delivers differentiated solutions across diverse end markets such as food, medical, sporting goods, thermoset plastics, adhesives, and packaging.

Mathew Wallace, Managing Director at Gemspring, commented, "We look forward to unlocking the Company's full potential as a standalone business and supporting its next chapter of growth and innovation. We see ample opportunity to expand the Company's offering by strengthening its capabilities in synthetic rubber markets and expanding into adjacent chemical categories, both organically and through strategic acquisitions. These opportunities will be made possible by the Company's talented employees, strong customer relationships, and dedicated suppliers."

Tesham Gor, a Gemspring Executive Advisor and incoming Chief Executive Officer, added, "Today marks the beginning of an exciting new chapter for an organization poised to deliver tremendous value to its current and future customers. Our team is unified in its commitment to invest in our people, safety, product development, sustainability, and operational excellence. We will continue to push the boundaries of innovation to redefine what's possible in polymers and materials science."

Piper Sandler & Co. acted as lead financial advisor, Greenhill & Co. served as a financial advisor, and Kirkland & Ellis LLP served as legal counsel to Gemspring on the transaction.

About Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm with $5.1 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2.0 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. For more information, visit www.gemspring.com.

CONTACT: Matt Wallace, mwallace@gemspring.com

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SOURCE Gemspring Capital

FAQ

What did Gemspring acquire from Goodyear on Nov 3, 2025 (GT)?

Gemspring acquired Goodyear's polymer chemicals business including two manufacturing plants in Houston and Beaumont, TX and an R&D facility in Akron, OH.

Which Goodyear chemical facilities did Goodyear keep after the GT divestiture?

Goodyear retained its chemical facilities in Niagara Falls, NY and Bayport, TX and the rights to products from those sites.

Who will lead the acquired polymer chemicals business after Gemspring's purchase (GT)?

Tesham Gor is named incoming Chief Executive Officer for the acquired polymer chemicals business.

How large is Gemspring Capital's backing for the GT acquisition?

Gemspring Capital reports $5.1 billion of capital under management.

Which advisors worked on Gemspring's acquisition of GT's polymer chemicals business?

Piper Sandler acted as lead financial advisor, Greenhill as financial advisor, and Kirkland & Ellis served as legal counsel.