Arsenal Closes Sixth Meridian Buy

Meridian Adhesives Group, a portfolio company of Arsenal Capital Partners, has closed its sixth acquisition with the buy of Epoxies, Etc.

Epoxies, Etc. is a manufacturer and formulator of specialty epoxies, urethanes, silicones and UV curable systems, including adhesives, potting compounds and coatings.

The company’s products are used widely to protect, insulate, and conceal circuitry, components, and devices in electronic, automotive, and aerospace applications. Epoxies, Etc., led by CEO Michael Harrington, is headquartered in Cranston, RI (www.epoxies.com).

The buy of Epoxies, Etc. is Meridian’s sixth acquisition. Arsenal formed Meridian in May 2018 as a new platform to acquire adhesives and sealants companies with a specific interest in high-value adhesives technologies. The first acquisition of Meridian was the buy of Pompano Beach, FL-based Adhesives Technology Corporation, a manufacturer of specialty adhesives for the infrastructure and construction industries (www.atcepoxy.com). Other add-on acquisitions quickly followed including Billerica, MA-based Epoxy Technology, a manufacturer of high-performance specialty epoxy, ultraviolet, and hybrid adhesives (www.epotek.com), in May 2018; Dalton, GA-based W.F. Taylor, a manufacturer and marketer of flooring adhesives (www.wftaylor.com), in September 2018; Rancho Cucamonga, CA-based Evans Adhesive, a manufacturer of industrial adhesives (www.evansadhesive.com), in December 2018; and Dalton, GA-based PolyCom in July 2019.

As a result of these acquisitions, Meridian is now a manufacturer of adhesives and sealants including high-performance specialty epoxy, polyurethane, hot melt and hybrid adhesives for the electronics, medical, construction and infrastructure markets. The company, led by CEO Dan Pelton, has operations in Dalton, GA; Fontana, CA; Billerica, MA; Pompano Beach, FL; Cranston, RI; and Columbus, OH (www.meridianadhesives.com).

“This acquisition extends Meridian into high growth sectors, such as infrastructure and aerospace, and expands our product portfolio in existing markets, mainly in electronics and medical applications,” said Roy Seroussi, an investment partner at Arsenal.

Arsenal invests in middle-market specialty industrial and healthcare companies that have from $100 million to $500 million in enterprise value. The firm has offices in New York and Shanghai (www.arsenalcapital.com).

Grace Matthews was the financial advisor to Epoxies, Etc. on this transaction.

© 2019 Private Equity Professional | August 26, 2019

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