Chase Corp. recently announced that it has acquired Resin Designs LLC, an advanced adhesives and sealants manufacturer with locations in Woburn, Mass., and Newark, Calif. In 2015, Resin Designs reportedly had revenue in excess of $11 million, with results expected to be accretive to Chase Corp’s earnings.
The business was acquired for a purchase price of $30.4 million, pending any final working capital adjustment and excluding acquisition-related costs. As part of this transaction, Chase is reportedly acquiring all working capital and fixed assets of the business, as well as entering into multi-year leases at both locations. The purchase was funded entirely with available cash on hand.
“Resin Designs is a great strategic acquisition for Chase Corp.,” said Adam P. Chase, president and CEO. “It broadens our adhesives and sealants product offering and manufacturing capabilities, and expands our market reach into logical adjacencies. We feel positive about the cultural fit between the organizations and synergy potential through leveraging our geographic proximity and Chase’s nurturing approach to complementary businesses with growth potential.”