Arsenal Capital to acquire ADCO
Arsenal Capital Partners has signed an agreement to acquire ADCO Global, a manufacturer of specialty adhesives, sealants and tapes, from Aurora Capital Group. The transaction is expected to close during the third quarter of 2013.
ADCO Global is a supplier of specialty adhesives, sealants, tapes, and coatings serving the construction, transportation, and industrial markets. The company’s products are used in window, roofing, solar panel, wind, bus/trailer/RV, automotive, marine, civil engineering, telecommunications, security glass and general construction applications. The company is headquartered in Lincolnshire, IL (www.adcoglobal.com).
“ADCO Global has a long history of innovation, providing great solutions and service to its diverse customers. We look forward to working with ADCO Global’s management and employees,” said John Televantos, a Partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group.
Arsenal Capital Partners invests in middle-market specialty industrial and healthcare companies that have $50 million to $250 million in enterprise value. Industries of specific interest include specialty & fine chemicals; segments of healthcare; transportation and logistics; power generation; aerospace & defense; and process industry components and services. Arsenal has over $2 billion of committed capital under management. The firm was founded in 2000 and has offices in New York and Shanghai (www.arsenalcapital.com).
The seller of ADCO Global, Aurora Capital, focuses principally on control-investments in middle-market industrial, manufacturing and service oriented businesses. The firm has $2 billion of capital under management and is located in Los Angeles (www.auroracap.com).
“Aurora prides itself on investing in outstanding middle market companies and providing the resources necessary to enable them to reach a new level of performance. ADCO Global is a clear demonstration of the successful execution of our strategy. We were fortunate to have partnered with John Knox and his exceptional management team at ADCO Global,” said Gerald Parsky, Chairman of Aurora Capital Group.
“Aurora has been a great partner for ADCO Global. Aurora’s support and governance have been essential to our successful transformation of the business,” said John Knox, Chairman, President and CEO of ADCO Global. “ADCO Global is excited to partner with Arsenal Capital Partners. The firm has an outstanding track record of growing specialty chemicals businesses and is well suited to support our continued growth.”