Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan (OTPP), today announced that it has agreed to acquire specialty resin adhesive and paper overlays producer Dynea North America from Dynea Chemicals Oy of Finland.

Financial details of the agreement are not being released.

“We are delighted to have Dynea North America become a Teachers’ portfolio company,” said Jim Leech, senior vp, Teachers’ Private Capital. “Dynea North America is a market leader in an attractive industry, and we are excited about supporting its strong management team as it grows and develops the business as an independent company.”

Garry McClean, President, Dynea North America, noted: “Given Teachers’ long-term investment philosophy, their purchase of Dynea North America is an excellent signal to the market of their confidence in our business. We look forward to building on the recent success of Dynea North America in partnership with Teachers’.”

Headquartered in Mississauga and with operations across Canada, the United States and in Mexico, Dynea North America has annual sales of more than US$550 million. Its resin solutions are used in a variety of applications by the panel board industry, laminated beam and structural wood manufacturers, furniture manufacturers, the mineral and glass fibre industry, and the paper impregnating industry, among others.

Teachers’ Private Capital is the private investment arm of the $96 billion Ontario Teachers’ Pension Plan, which is responsible for investing the fund and administering the pensions of Ontario’s 264,000 active and retired teachers.