WESTPORT, Conn., May 22, 2025 ~ Gemspring Capital Management, LLC ("Gemspring"), a private equity firm specializing in middle-market investments, has announced the acquisition of Goodyear Chemical, a subsidiary of The Goodyear Tire & Rubber Company (NASDAQ: GT). The agreement was made through an affiliate of Gemspring and includes the purchase of two operating plants in Texas and a research and development facility in Ohio.

Goodyear Chemical, headquartered in Akron, Ohio, is a leading producer of synthetic rubber with a strong presence in North America. The company's diverse product portfolio serves various industries including tire manufacturing, food, medical, sporting goods, thermoset plastics, adhesives, packaging, and more.

According to Mathew Wallace, Managing Director at Gemspring, the firm is excited to unlock the full potential of Goodyear Chemical as an independent business. He believes that the company's strong customer relationships and innovative products make it an industry leader. Wallace also expressed gratitude to the Goodyear team for their contributions to the success of the business thus far.

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Tesham Gor, an Executive Advisor at Gemspring who is expected to become Chief Executive Officer of Goodyear Chemical after the acquisition is finalized, shared his enthusiasm for advancing the company's position in the industry. He plans to leverage Gemspring's expertise in strategy and finance to continue delivering top-quality products and solutions to customers globally.

The transaction is subject to regulatory approval and other customary closing conditions. It is expected to be completed by late 2025. Piper Sandler & Co., Greenhill & Co., and Kirkland & Ellis LLP acted as financial advisors and legal counsel for Gemspring on this deal.

This acquisition marks an important milestone for both Gemspring and Goodyear Chemical. As a standalone entity under Gemspring's ownership, Goodyear Chemical will have more opportunities for growth and innovation while continuing to provide exceptional products and services to its customers.

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