ARSENAL AND SEAL FOR LIFE ANNOUNCE ACQUISITIONS OF MASCOAT AND VERDIA

NEW YORK, Dec. 17, 2021 /PRNewswire/ -- Arsenal Capital Partners ("Arsenal"), a private equity firm that specializes in investments in industrial growth companies, announced today that its global industrial coatings platform, Seal For Life Industries ("Seal For Life"), has acquired Mascoat Ltd. ("Mascoat") and Verdia, Inc. ("Verdia"), both privately owned specialty industrial coatings companies.

Mascoat, based out of Houston, TX, has been a leading manufacturer of thermal insulation coatings, anti-condensation, and sound damping coatings since 1995.  The company serves a wide variety of industries with its coatings such as industrial, marine, commercial, and automotive applications.  Mascoat has helped to develop new ways to solve corrosion under insulation with its insulation coatings and pioneered the use of its sound damping and anti-condensation coatings to the commercial and yacht sectors.  The company has locations in The Netherlands and China, in addition to its base in Houston.

George More, President, CEO, and Founder of Mascoat, said, "We are delighted to become part of the Seal For Life platform.  The combination of Mascoat's industry-leading insulation and protective coatings with Seal For Life's extensive coatings portfolio and global footprint will allow us to reach additional markets and customers, and will provide customers even more high-performance solutions to protect their critical infrastructure assets."

Verdia is a leading polymer flooring manufacturer in the United States with deep expertise in polyurethane concrete flooring systems and offers a complete line of epoxies, polyurethane, and polyaspartics formulations. Inc. Magazine recognized Verdia as one of the Fastest Growing Companies in America for 2019.  Verdia has been awarded USDA certification for its bio-based polyurethane floor coating produced from renewable and sustainable polymer sources.  Verdia provides superior products, unparalleled customer service, and industry-leading technical support and focuses on providing long-lasting and environmentally conscious polymer solutions.  The company is based in Conroe, TX.

Tony Crowell, President, CEO, and Founder of Verdia, remarked, "Joining the Seal For Life platform provides Verdia with the critical mass and market access it needs to continue its remarkable growth trajectory.  Our customers consider polymeric floor coatings as critical technology for protecting their high-value infrastructure assets, and we look forward to expanding applications of our highly sustainable products around the world."

Jeff Oravitz, CEO of Seal For Life, remarked, "We are very pleased to welcome the Mascoat and Verdia teams to the Seal For Life family, and look forward to working with them to accomplish our vision of being the leading global provider of protective coating and sealing solutions for infrastructure markets.  The incorporation of these highly specialized industrial coatings companies into the Seal For Life platform increases our global scale and the ability to meet the needs of our many global customers."

Aaron Wolfe, an Investment Partner of Arsenal, said, "Mascoat and Verdia bring exceptional coatings technologies to the Seal for Life platform and have an excellent market reputation for providing the highest level of performance and quality to meet demanding customer requirements.  These businesses provide highly complementary technologies and build further scale for Seal For Life.  We look forward to supporting these teams and investing in inorganic growth and completing additional acquisitions to continue to build Seal For Life's position in the broader protective coatings and sealing solutions space for infrastructure applications."

About Seal For Life

Seal For Life provides corrosion prevention, waterproofing, fire and heat protection, and insulation products.  The company offers industrial liquid coating products to protect critical infrastructure, heat shrink sleeves to protect pipeline joints from corrosion and degradation, cathodic protection products, visco-elastic adhesive solutions to protect assets from corrosion and water ingress; and cold-applied, single wrap and fused tape products.  It offers products for many markets, such as marine, splash zone and underwater installation, renewable energy, onshore oil, gas, and water pipelines, insulation, casing filler, flooring, refinery, linings, cathodic protection, cables and wires, and waste water applications.  Visit www.sealforlife.com for more information.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle-market industrial growth and healthcare companies.  Since its inception in 2000, Arsenal has raised institutional equity investment funds of $9.7 billion, has completed more than 250 platform and add-on investments, and achieved more than 30 realizations.  Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience.  The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.  Visit www.arsenalcapital.com for more information.

CONTACT: Jacqueline Schofield, [email protected]

SOURCE Arsenal Capital Partners