The current management team has reportedly retained ownership in Applied.
Grace Matthews Inc. recently announced that Minneapolis-based Goldner Hawn Johnson & Morrison (GHJ&M) has acquired a majority position in Applied Adhesives, a former portfolio company of Ellipse Capital. The current management team has reportedly retained ownership in Applied and will continue leading the company moving forward. Grace Matthews advised the shareholders of Applied Adhesives on the transaction.
“We have enjoyed working with management over the last several years to combine two leading organizations into a prominent adhesives distribution platform,” said Peter Gotsch, managing partner, Ellipse Capital. “We believe Applied is incredibly well positioned to continue executing its growth strategy under new ownership. The transaction is a terrific outcome for Applied’s shareholders and will allow management to maintain significant ownership in the business going forward.”