31 July 2013 20:42 [Source: ICIS news]
HOUSTON (ICIS)--Arsenal Capital Partners has completed the acquisition of US-based speciality chemicals producer ADCO Global, the US-based private equity firm announced on Wednesday.
ADCO supplies specialty adhesives, sealants, tapes and coatings for the construction, transportation and industrial markets.
Along with the acquisition, ADCO has merged with Royal Adhesives and Sealants, another Arsenal investment.
“ADCO Global is a well managed business that fits well with Royal, given its complementary product lines and its global footprint,” said Tim Zapala, a partner at Arsenal. “This merger will provide more enhanced and global capabilities to our customers.”
Royal president and CEO Ted Clark will continue to serve his roles over the newly combined businesses. ADCO president and CEO John Knox will join the Royal board of directors as a non-executive chairman.
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