NEW YORK, June 5, 2018 /PRNewswire/ -- Arsenal Capital Partners ("Arsenal"), a leading private equity firm that invests in middle-market specialty industrials and healthcare business services companies, announced today the acquisition of Adhesives Technology Corporation ("ATC"), a leading manufacturer of specialty adhesives for the infrastructure and construction industries.
Simultaneous with the acquisition of ATC, Arsenal also announced the creation of Meridian Adhesives Group ("Meridian") as its new platform in the global adhesives and sealants sector, which will focus on high-value adhesives technologies. Arsenal brings significant experience in the $60 billion global adhesives and sealants market, having previously built Royal Adhesives and Sealants through nine strategic acquisitions and creating a top ten global supplier of adhesives and sealants with sales in excess of $600 million annually.
"Partnering with Arsenal provides us with the capital and an increased level of industry and operating expertise which enables us to take advantage of all we have to offer and fast forward our acquisition capabilities. We are excited about partnering with such a time-tested and successful firm and look forward to catapulting ATC to new heights as an innovative market leader," said Hart McIntyre, the President of ATC.
Chas Eggert, an Industry & Operations Partner of Arsenal Capital, said, "Arsenal has extensive experience investing and building companies in the adhesives and sealants sector, and the investment in ATC complements our expertise. We look forward to partnering with Hart and the leadership team to help accelerate ATC's growth and build another global leader in adhesives and sealants through the Meridian platform."
Don Nolan, interim CEO of Meridian and the Chair of the board, said, "ATC has an exciting portfolio of adhesive solutions that address unmet needs in the U.S. infrastructure market. Our strategy is to build on ATC's technologies to support its customers' emerging demands."
About Adhesives Technology Corporation
Founded in 1978, ATC is a leading manufacturer of construction and industrial-related adhesives in epoxies, urethanes, acrylics, ester blends, and polyureas. ATC's product brands include ULTRABOND®, MIRACLE BOND®, CRACKBOND®, THE CRACKER® and HARD-ROK. From heavy duty construction needs to everyday household repairs, ATC's products can be used for anchoring, doweling, bonding, coating, joint filling, concrete repair, maintenance and restoration. Visit www.atcepoxy.com for more information.
About Arsenal Capital Partners
Established in 2000, Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare business services companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 - $500 million of initial enterprise value. 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.
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SOURCE Arsenal Capital Partners