TAGS: Hot-melt Adhesives Waterborne Adhesives Reactive Adhesives
Goldner Hawn announced the sale of Applied Adhesives, a manufacturer and value-added distributor of adhesive products and thermal product solutions in North America, to Arsenal Capital Partners. The terms of the transaction were not disclosed.
Manufacturer & Distributer of Various Adhesives
Applied Adhesives is a comprehensive provider of adhesive solutions for the packaging, paper converting, graphic arts, bottle labeling, product assembly, and woodworking industries. The company is a value-added distributor of hot-melt, water-based, and reactive adhesives as well as dispensing equipment. Applied Adhesives serves as a critical supply chain partner to adhesive manufacturers and formulators by offering services to its customer base. Since Goldner Hawn partnered with Applied Adhesives in 2017, the company has completed five acquisitions.
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We are grateful for the support Goldner Hawn has provided us over the past four years," said John Feriancek, president and chief executive officer of Applied Adhesives. "
As we look toward the future, we are thrilled to partner with Arsenal. With its backing, we will continue to execute on our growth initiatives and strive to be the adhesive solutions partner of choice for businesses throughout North America.”
Chad Cornell, a Partner at Goldner Hawn, added, "
It has been a pleasure for Goldner Hawn to partner with Dan Horner and Brian Webb in growing Applied Adhesives, both organically and inorganically, more than tripling its size during our investment, and John has proven to be a fantastic successor to Dan and Brian. He led several successful add-on acquisitions for the company and is the right person to continue Applied Adhesives' growth. We wish John, his team, and Arsenal all the best in Applied Adhesives' next chapter."
Arsenal's Third investment in A&S Market
Applied Adhesives represents Arsenal's third platform investment in the adhesives and sealants market, following Arsenal's former investment Royal Adhesives & Sealants and its current investment Meridian Adhesives Group.
Roy Seroussi, an Investment Partner of Arsenal, commented, "
We are delighted to partner with John and his team and excited to have Dan continue on the board. Arsenal brings decades of domain and technical expertise in the adhesives and sealants market, and we are excited to support Applied Adhesives' organic and acquisition growth initiatives and continue to build the company as a value-added distributor."
BlackArch Partners served as the exclusive financial advisor to Applied Adhesives and Goldner Hawn, with Faegre Drinker Biddle & Reath LLP serving as legal advisor. Kirkland & Ellis LLP served as legal advisor to Arsenal.
Source: Arsenal Capital Partners