Arsenal Capital Partners’ portfolio company, Royal Adhesives will acquire all the assets of Craig Adhesives & Coatings, which is a wholly owned subsidiary of Vertis Communications. Craig Adhesives & Coatings is based in Newark, New Jersey and specialises in the supply of water-based and ultra-violet cured adhesives and coatings to the graphics art and printing markets.
While this acquisition will further increase Royal Adhesives portfolio of sealants, coatings and adhesives, it will enable Vertis Communications to pay off its debts and invest in cross media in order to maintain its growth. As per a long term supply agreement between Vertis Communications and Royal Adhesives, which is part of the acquisition, Vertis Communications will continue to have access to the products of Craig Adhesives & Coatings and will also continue to provide its services to its clients without any interruption.
According to the President and CEO of Vertis Communications, the fact that Craig Adhesives & Coatings will benefit from being a part of a larger organisation, which specialises in adhesives and sealants was the driving factor in choosing Royal Adhesives for this transaction. According to John Televantos, who is a partner at Arsenal Capital, Craig Adhesives & Coatings has a long history of innovations in the area of ultra-violet cured adhesives and coatings, which are ideal for applications such as lamination, packaging and printing and the acquisition of Craig by Royal Adhesives ensures its leadership in the field of sealants, coatings and adhesives.
Source: http://www.royaladhesives.com