Arsenal Capital to Acquire ADCO from Aurora Capital
Arsenal Capital Partners said it has signed an agreement to acquire ADCO Global, a global manufacturer of specialty adhesives, sealants and tapes. ADCO Global is a portfolio company of Aurora Capital Group, a Los Angeles-based private equity firm. The transaction is subject to customary conditions to closing, including regulatory approval, and is expected to close during Q3/13.
John Televantos, a partner at Arsenal Capital and co-head of the firm’s Specialty Industrials Group, said, “ADCO Global has a long history of innovation, providing great solutions and service to its diverse customers. We look forward to working with ADCO Global’s management and employees.”
John Knox, chairman, president and CEO of ADCO Global said, “Aurora has been a great partner for ADCO Global. Aurora’s support and governance have been essential to our successful transformation of the business. ADCO Global is excited to partner with Arsenal Capital Partners. Arsenal has an outstanding track record of growing specialty chemicals businesses. ADCO Global is expanding its position around the world with innovative products and solutions to serve market leading customers. Arsenal is well suited to support ADCO Global’s continued growth.”
Gerald L. Parsky, chairman of Aurora Capital, said, “Aurora prides itself on investing in outstanding middle market companies and providing the resources necessary to enable them to reach a new level of performance. ADCO Global is a clear demonstration of the successful execution of our strategy. We were fortunate to have partnered with John Knox and his exceptional management team at ADCO Global.”