|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
SOUTH BEND, IN May 23, 2011— Royal Adhesives & Sealants (Royal) a portfolio company of Arsenal Capital Partners (Arsenal) announced that Royal will acquire substantially all of the assets of Clifton Adhesives.
Clifton Adhesives is a major supplier to the aerospace, military, recreational and commercial marine market of thermoplastic (Polyurethane) and elastomeric (Polychloroprene) adhesives and coatings, which are used in the fabrication of inflatable structures. The acquisition builds on Royal’s strong platform of leading adhesives, sealants and coatings solutions.
“We continue to identify leading niche companies that will enhance our product offerings to the markets in which we have chosen to compete. The addition of Clifton will broaden our customer base in the aircraft and marine markets” said Ted Clark, Chief Executive Officer of Royal. “Clifton’s elastomeric adhesives will add to our growing portfolio of leading adhesives and sealants technologies and we look forward to working with the Clifton team to successfully integrate the Clifton business into Royal.”
Tim Zappala, a Partner at Arsenal Capital said, “Clifton has a long history supplying adhesives to the demanding aircraft and marine markets. The acquisition of Clifton and merger with Royal represents another important milestone in our strategy to further build a leading adhesives, sealants and coatings business offering customized and proprietary solutions and is the third Royal acquisition in the last six months underscoring our determination to build a market leading adhesives, sealants and coatings business.”
Clifton Chief Executive Officer Bob Lefelar stated, “Clifton’s success and exponential growth over the past 66 years as a family owned business was the direct result of offering quality products, exemplary service, and customized products. The time is now right for Clifton to be part of a larger organization with the same operating philosophy and where we have a great market fit. The company is now better positioned to continue offering the customer support and service going forward that our customers demand.”
John Televantos, a Partner at Arsenal Capital, said, “We are building the Royal adhesives business in part by selectively identifying niche acquisitions in this specialty sub sector where we can apply our deep industry knowledge to achieve enhanced growth. We are well on our way to building a strong company that will itself become a leading competitor on a global scale.”
Arsenal Capital acquired Royal in 2010 and since has worked closely with management to grow the company organically and through targeted acquisitions. Shortly after completing the purchase by Arsenal Capital, Royal acquired Para-Chem, a leading provider of specialty adhesives, coatings and polymers. In November 2011, Royal acquired Craig Adhesives a premier supplier of ultraviolet light cured adhesives and coatings and in April 2012 added Extreme Adhesives, a premier supplier of reactive assembly adhesives.
About Clifton Adhesives
Clifton Adhesive, Inc. is a specialty adhesive manufacturer that has been in business for 66 years. The company is ISO 9001 certified and produces quality adhesives for the aircraft and marine industry. The company develops and manufactures adhesives incorporating polychloroprene, nitrile, natural rubbers and styrene butadiene.
About Royal Adhesives & Sealants
Royal Adhesives & Sealants is a leading producer of proprietary, high-performance adhesives, sealants, coatings and polymers. Headquartered in South Bend, Indiana, Royal offers a broad range of specialty formulated products designed to solve complex bonding, laminating and sealing applications across a diverse range of markets, including aerospace and defense, construction, specialty packaging, automotive and industrial. The company offers a broad spectrum of customized thermosetting epoxy and urethane, solvent-based and water-based technologies to meet the most demanding adhesive and sealant applications. For additional information about Royal Adhesives & Sealants, please visit www.royaladhesives.com.