IPS Corporation, a portfolio company of Nautic Partners, has acquired Integra Adhesives from its founder and President, Doug Turner, and other shareholders. The buy of Integra is the 5th add-on acquisition IPS has completed since it became a Nautic portfolio company in February 2015.
Integra Adhesives is a manufacturer of specialty adhesives used to permanently bind engineered stone, natural stone, quartz, and solid-surface building products and interior finishes such as countertops. The company’s adhesives are based on methacrylate (a derivate of methacrylic acid – a colorless, viscous liquid), epoxy, and polyurethane-based formulations. The growing use of engineered stone for countertops is increasing the demands for Integra’s products. The company is headquartered near Vancouver in Abbotsford, BC (www.integra-adhesives.com).
IPS Corporation is a maker of adhesives, solvent cements, and other components and supplies used in the plumbing, construction and plastic fabrication industries. Company brand names include Weld-On, Water-Tite, Test-Tite, Guy Gray, TrueBro, Studor, and SciGrip. IPS has operations throughout the United States, Europe, and Asia. The company was founded in 1954 and is headquartered south of Los Angeles in Compton, CA (www.ipscorp.com).
The operations of Integra will be merged with IPS’ SciGrip division, which also makes methacrylate-based adhesives for countertop materials, boat and marine components, outdoor signs, and in-store trade displays.
“We have tremendous respect for Integra and Doug Turner, who has built Integra’s #1 position in engineered-stone adhesives through constant innovation and an unwavering commitment to product quality and customer service – both of which are values central to our philosophy at IPS,” said Tracy Bilbrough, CEO of IPS.
Nautic Partners is a middle-market private equity firm with over $2.5 billion of equity capital under management. Nautic targets majority equity investments of $25 million to $75 million. Sectors of interest include business services, manufacturing, and healthcare. The firm was founded in 1986 and is headquartered in Providence, RI (www.nautic.com).
In December 2015, Nautic completed fund raising for Nautic Partners VIII at the hard cap of $900 million. Nautic began fund raising in October 2015 and raised its cap to $900 million after receiving strong demand from both new and existing investors. IPS is a portfolio company of Nautic Partners VII which closed in June 2014.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-6-16