One Rock renames Eastman’s tyre additives business as Flexsys

On 1 November private equity firm One Rock Capital Partners LLC announced that it had completed the previously announced acquisition of the Eastman Chemical Company tyre additives business. Now the company is being renamed as Flexsys, a tribute to the legacy name of the business. The acquisition of Flexsys marks One Rock’s sixth corporate carve-out transaction in 2021.

“We are excited to partner with the Flexsys management team to build on the company’s established reputation and position it for further growth and success,” said Tony W. Lee, managing partner of One Rock. “We look forward to providing the strategic and operational resources needed for a successful transition from a corporate subsidiary to a strong, independent business.”

Commenting on the acquisition and specifically the renaming, Flexsys representatives said: “Flexsys is a name you know, with products that span 75 years, backed by the same great team you trust. But we are now a standalone entity, driven by a renewed and unyielding commitment to help our customers grow and succeed.”

According to the company, the takeover has resulted in “refreshed energy” that is “fuelled by a singular focus on delivering better solutions for manufacturers of tyres and other rubber products.” Similarly, Flexsys’s range of rubber chemicals and solutions have not changed and continue to include Crystex vulcanizing agents, Santoflex antidegradants and Duralink HTS post-vulcanization stabilizers.

Flexsys CEO Güneş Çelik concluded: “We are excited to bring a new focus to the Flexsys brand, and to continue its tradition of excellence. As a new company, we are re-energized and enthusiastic to help move the industry forward.”