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Arsenal Capital Acquires IGM Resins, a Supplier of Raw Materials to Adhesives Industry

Published on 2012-09-25. Author : SpecialChem

NEW YORK, USA -- Arsenal Capital Partners, one of the leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, announced the acquisition of IGM Resins, one of the leading provider of intermediates to the global ultraviolet ("UV") radiation cure coatings, inks and adhesives industry. UV technologies are used in numerous end markets, including printing, packaging, electronics and construction.

Founded in 1999, and headquartered in the Netherlands, IGM Resins is a global specialty chemical company and leading supplier of photoinitiators and acrylates to the worldwide UV curable coatings and inks markets. In 2010, the company acquired the Photomer® brand UV Acrylates business from Cognis providing the business with a fully integrated product portfolio including UV curable monomers, epoxy Acrylates, polyester and polyether Acrylates and Urethane Acrylates. IGM Resins has offices and production facilities in Europe, the U.S., South America and China. IGM Resins' strategy is to expand its product portfolio, services, production, technical support and product development in support of the high growth UV radiation cure market. The Valence Group acted as financial advisor to IGM on this transaction.

"We are delighted with the opportunity to invest in a global company with the ability to provide complete solutions to the highly attractive UV cure end markets. The acquisition of IGM Resins further builds on Arsenal's broad portfolio and established expertise in the Specialty Chemicals and Materials sectors." said John Televantos, a Partner at Arsenal who co-heads the firm's Specialty Industrials practice.

"We selected Arsenal as our partner for this business based on their industry and operating capabilities. We believe that they are uniquely capable of supporting our company's growth in the fast growing UV coatings, inks and adhesives markets globally. This is a positive development for our customers, employees, suppliers and all of our other partners," said John Huiberts, CEO and founder of IGM Resins who will maintain a minority interest and remain active in the company.

"We are pleased to be partnering with John and his team and we look forward to help accelerate the impressive growth trajectory of IGM and support the company through further identified strategic growth opportunities," added Sal Gagliardo, an Operating Partner at Arsenal.

The acquisition of IGM is the fourth acquisition by Arsenal's Specialty Industrials team in 2012, following the investments in Fluoro-Seal Holdings, Plasticolors Inc. and Evonik's Colorants business. IGM joins Arsenal's extensive portfolio of investments in the specialty industrials sector. The firm's current investments in this sector include Chromaflo Technologies (combination of Plasticolors Inc. and Evonik's Colorants business), the largest independent global pigment dispersion platform; Fluoro-Seal Holdings, a leading provider of unique plastic barrier, adhesion and surface enhancement products and services as well as manufacturer of value-added materials; Royal Adhesives & Sealants, a leading producer of proprietary, high-performance adhesives, sealants and coatings. Previous investments in the sector include Novolyte Technologies, Genovique Specialties, Velsicol Chemical, Sermatech International, and Vertellus Specialties.

About Arsenal Capital Partners

Arsenal Capital Partners is a progressive private equity firm that invests in middle-market companies with revenues ranging from $30 to $400 million. Their philosophy is to partner with talented management teams, provide them with access to world-class operating resources and patient capital, and develop positive, open and constructive relationships that foster long-term value creation.

About IGM Resins

IGM Resins BV commenced supply of raw materials to the European Ink and Coatings industry in the late nineties. Since that time the IGM product portfolio has developed significantly in response to the technical demands from its customers. Today, IGM is recognized globally as a specialist in the development, manufacturing and supply of products and technical services to the global UV Ink & Coating industry.

Source: Arsenal Capital Partners


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