Arsenal promotes two

The promotions of Seroussi and Rooney follow Arsenal’s hiring of its ninth operating partner earlier this month. 

Arsenal Capital Partners has promoted Roy Seroussi to principal and Joseph Rooney to vice president, according to a statement.

Seroussi focuses on investments in the specialty industrials sector and joined Arsenal in 2008 after working at Credit Suisse. Seroussi works with portfolio companies including petroleum industry logistics provider Charter Brokerage and specialty chemicals company FlowChem, which the firm acquired earlier this month.

Rooney also works in the specialty industrials industry and came to Arsenal in 2009. He was promoted to senior associate in 2011 and previously worked at GSC Group—an investment firm which focused on high yield, high-risk debt that filed for bankruptcy in 2010.

Neither Seroussi nor Rooney are replacing anyone at Arsenal. The promotions coincide with Arsenal’s acquisition of software and consulting services company Certara.

Earlier this month, Arsenal hired Shawn Abrams as an operating partner in the specialty industrials group earlier this month. Abrams is Arsenal’s ninth operating partner and was previously the president of W.R. Grace & Co.’s Grace Catalysts Technologies, which makes products for refining and chemical manufacturing processes.

New York-based Arsenal s invests in specialty industrial and healthcare companies with enterprise values between $50 million and $250 million. Most investments are between $25 million and $75 million. The firm closed its third fund in April on $875 million, above its $750 million target.

Arsenal was founded in 2000 by Terrence Mullen, former principal at Thomas H lee Partners, and Barry Siadat, who previously worked at AlliedSignal/Honeywell International. The firm has $1.7 billion of committed equity capital.