Arsenal Capital Forms Meridian Adhesives Group Following Acquisition of ATC, Acquires Epoxy Tech
Following its acquisition of Adhesives Technology Corp., Arsenal Capital Partners has formed Meridian Adhesives Group and acquired Epoxy Technology, Inc.
Arsenal Capital Partners recently announced its acquisition of Adhesives Technology Corporation (ATC), a manufacturer of specialty adhesives for the infrastructure and construction industries. Simultaneous with the acquisition of ATC, Arsenal announced the creation of Meridian Adhesives Group as its new platform in the global adhesives and sealants sector, focusing on high-value adhesives technologies. According to Arsenal, it brings significant experience in the $60 billion global adhesives and sealants market, having previously built Royal Adhesives and Sealants through nine strategic acquisitions and creating a global supplier of adhesives and sealants with sales in excess of $600 million annually.
“Partnering with Arsenal provides us with the capital and an increased level of industry and operating expertise which enables us to take advantage of all we have to offer and fast forward our acquisition capabilities,” said Hart McIntyre, president of ATC. “We are excited about partnering with such a time-tested and successful firm and look forward to catapulting ATC to new heights as an innovative market leader.”
“ATC has an exciting portfolio of adhesive solutions that address unmet needs in the U.S. infrastructure market,” said Don Nolan, interim CEO of Meridian and chair of the board. “Our strategy is to build on ATC’s technologies to support its customers’ emerging demands.”
Arsenal also announced its acquisition of Epoxy Technology, Inc. (Epoxy Tech), a manufacturer of high-performance specialty epoxy, ultraviolet and hybrid adhesives. “Everyone at Epoxy Tech is very excited about this new opportunity,” said Andy Horne, president of Epoxy Tech. “We look forward to expanding the company’s ability to deliver premium adhesive products to our customers, and we feel fortunate to work with a partner such as Arsenal given its proven, significant experience in the specialty adhesives industry."
“We look forward to the partnership with Epoxy Tech’s management and employees,” said Nolan. “Our strategy is to grow Epoxy Tech organically and through acquisitions to expand Meridian’s portfolio of great products.”