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Arsenal Capital Partners recently announced it has completed its acquisition of ADCO Global Inc. Concurrent with the transaction, ADCO has merged with Arsenal’s Adhesives and Sealants platform investment, Royal Adhesives and Sealants LLC.
“ADCO Global is a well-managed business that fits well with Royal given its complementary product lines and its global footprint,” said Tim Zappala, a partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group. “This merger will provide more enhanced and global capabilities to our customers. Ted Clark, president and CEO of Royal, a 35-year plus veteran of the adhesives, sealants and coatings industry, will continue as president and CEO of the combined business. John Knox, the current chairman, president and CEO of ADCO Global, will join the Board of Directors of Royal as a non-executive chairman, which will ensure a seamless integration.”
“The merger with ADCO Global strengthens Royal’s global reach and adds complementary products and technologies that will enhance our ability to serve global customers and markets in a comprehensive way,” Clark said. “Royal’s experienced management team will partner with ADCO Global’s experienced management to accelerate global growth and expand the platform into new technologies and geographies.”
“The merger of Royal and ADCO Global creates a leading global platform to accelerate growth in our key markets,” Knox said. “I look forward to supporting the combined business as chairman of the Board of Directors.”