Arsenal Acquires ATP Group from Bregal

Arsenal Capital Partners has acquired water-based adhesive tapes maker ATP Group from Munich-based Bregal Unternehmerkapital (BU).

ATP specializes in customized single- and double-sided industrial adhesive tapes that are used in a range of medical, mobility, construction, electronics, industrial, and graphics applications. ATP was founded in 1988 and has just over 450 employees. The company, led by CEO Daniel Heini, is headquartered near Zurich in Wollerau, Switzerland, with three production sites in Philadelphia, Berlin, and 90 miles northeast of London in Ipswich, United Kingdom.

“We appreciate the hands-on support that BU has provided us during our partnership,” said Mr. Heini. “Our commitment to environmentally friendly solutions provides a long-term growth opportunity for ATP. We are excited to partner with Arsenal to continue our global expansion and become the partner of choice of specialty water-based tapes to our international customer base.”

“We appreciate the continuous development of ATP by Daniel Heini and the entire ATP management team into the leading water-based adhesive tapes manufacturer,” said Felix Werdin, a partner of BU. “We are proud to have supported the team to accelerate the company’s overseas expansion over the past years, and we are convinced that ATP is well-positioned for the next stage of its impressive growth trajectory with its new partner Arsenal.”

New York-headquartered Arsenal invests in middle-market specialty industrial and healthcare companies that have $100 million to $500 million of enterprise value. Since its founding in 2000, Arsenal has raised total capital of $7 billion, closed more than 250 platform and add-on acquisitions, and exited more than 30 portfolio companies.

“We see a significant unmet need for environmentally friendly tapes across technically demanding end markets, and ATP is at the forefront of this substitution trend,” said Roy Seroussi, an investment partner at Arsenal. “Together with Daniel and ATP’s management team, Arsenal intends to accelerate the company’s global growth strategy through innovation, manufacturing extensions, and acquisitions.”

BU invests in mid-sized companies across a range of sectors in Germany, Austria, Switzerland and Northern Italy. The Munich-based firm is part of Bregal Investments, the corporate investment business of Cofra Holding, a sixth-generation family holding company based in Switzerland. Cofra’s other businesses include C&A, a fashion retail business; Redevco, a commercial real estate company; and Sunrock, a developer and owner of solar energy assets in the Netherlands.

Morgan Stanley & Co. was the financial advisor to BU and ATP, and Houlihan Lokey was the financial advisor to Arsenal.

© 2022 Private Equity Professional | February 3, 2022