Stonebridge Partners Completes the Recapitalization of Architectural Polymers


Stonebridge Partners (“Stonebridge”) is pleased to announce the successful recapitalization of Architectural Polymers, LLC and affiliates (“Architectural Polymers” or the “Company”) in partnership with Marshall Walters who founded Architectural Polymers in 1992.  As the largest single shareholder, Marshall will remain on the board of directors and retain his position as CEO and President.  The transaction closed on October 4, 2023.

Architectural Polymers (, headquartered in Palmerton, PA, is the leading manufacturer and designer of urethane (rubber) and plastic molds, or formliners, that are used in pre-cast, tilt-up, and pour-in-place concrete construction applications to create textures, patterns, graphic designs and embedded thin brick surfaces on concrete walls.  The Company’s formliner products are used across a diverse set of large and growing end markets, including infrastructure, institutional / government and commercial, in North America.  For 31 years, Architectural Polymers has built a reputation as a trusted partner, providing total concrete forming solutions to its broad customer base.

Stonebridge brings significant experience to the Company as Architectural Polymers represents Stonebridge’s 36th platform investment and its 14th in the infrastructure & building products segment.  Stonebridge provides additional expertise and resources to support Architectural Polymers in accelerating its continuous expansion in the formliner market.  Marshall Walters commented, “we are excited to partner with Stonebridge, as this gives Architectural Polymers the opportunity to capitalize on the growing opportunities in the concrete formliner market with an experienced ally”.

Debt financing for the transaction was provided by Bank of Montreal, while Brookside Capital Partners, Parkway Capital, and Spring Capital provided debt financing and co-invested equity alongside Marshall Walters and Stonebridge.  Griffin Financial Group provided advisory services to Architectural Polymers and Marshall Walters.

Stonebridge Partners is a lower middle-market, operations-oriented private equity firm founded in 1986. Taking an active, hands-on approach to value creation, Stonebridge and its Operating Partners partner with the management of its portfolio companies to pursue additional growth avenues and operational efficiencies. Stonebridge is focused on investing in family-owned, niche manufacturing, distribution, and service businesses with EBITDA of $3 million to $15 million.