WAYNE, N.J. (May 24, 3 p.m. ET) — Arsenal Capital Partners apparently has found something it likes in the plastics market.
The New York-based private equity firm recently made its fourth plastics-related acquisition of the year when it bought Clifton Adhesives, a supplier of thermoplastic and elastomeric adhesives and coatings for use in the aerospace, military, recreational and commercial marine markets.
No purchase price was disclosed. Wayne, N.J.-based
Arsenal acquired Clifton through its Royal Adhesives & Sealants unit in South Bend, Ind. Arsenal bought Royal in 2010, and later that year used Royal to purchase Para-Chem, a maker of specialty polymers, coatings and adhesives in Simpsonville, S.C. Royal then purchased another adhesives maker in 2011 and one more earlier this year for a total of four deals since being acquired by Arsenal.
Arsenal partner John Televantos said in a May 23 news release that his form “is building the Royal adhesives business...by selectively identifying niche acquisitions...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,” he added.
An Arsenal spokesman declined to provide a separate sales total for
The multiple acquisitions have lifted Royal's annual sales from $35 million in 2003 to more than $250 million today. Counting the
Arsenal's previous plastics deals in 2012 were its purchases of pigment dispersion makers Plasticolors Inc. and the Colortrend business of Evonik Industries AG and of plastic barrier treatment maker Fluoro-Seal Holdings LLC. Arsenal has combined Plasticolors and Colortrend to create a new firm called Chromaflo Technologies.