Aurora Capital Group has completed the previously announced sale of ADCO Global, a global manufacturer of specialty adhesives, sealants and tapes, to Arsenal Capital Partners. Terms of the transaction were not disclosed.
Aurora Capital Group (“Aurora”), a Los Angeles-based private equity firm, today announced that it has completed the previously announced sale of ADCO Global, Inc. (“ADCO Global” or the “Company”), a leading global manufacturer of specialty adhesives, sealants and tapes, to Arsenal Capital Partners (“Arsenal”), a New York-based private equity firm. Terms of the transaction were not disclosed.
Since Aurora acquired ADCO Global, the Company has achieved significant growth through a number of strategic initiatives, including, among others, the expansion of its international footprint in Asia and the extension of its product offerings into high-growth and high-margin segments that are benefitting from positive long-term global trends toward improved energy efficiency and ongoing mechanical fastener replacement. Through five strategic bolt-on acquisitions, ADCO Global has expanded its product offerings and enhanced its market-leading positions. Today, the Company has a global footprint with production facilities in the U.S., Europe, and Asia and maintains a deep customer focus, serving as a dedicated partner to major industrial clients and holding the #1 or #2 position in several key market segments.
Matthew B. Laycock, Principal of Aurora Capital Group, said, “Aurora has a proven track record of partnering with strong management teams to help outstanding companies strengthen their market leadership positions and accelerate their growth trajectory. ADCO Global is an excellent example of the successful execution of this strategy. Our ability to identify a strong market leader, reposition the business in high-growth markets and complete strategic bolt-on acquisitions was critical to this successful transaction. We believe ADCO Global is well-positioned to continue to grow in both the U.S. and international markets. The entire ADCO Global organization, led by Chairman, President and CEO John Knox, has done a tremendous job building this business over the past few years. We appreciate their efforts in delivering a great outcome for our investors, and we wish them the very best in the future.”
John Knox, Chairman, President and CEO of ADCO Global, stated, “Aurora has been a constant source of invaluable support and governance to our team during a transformative period of growth over the past few years. Aurora provided us with highly relevant resources and expertise that have helped elevate our performance to a new level. Looking ahead, we are excited to partner with Arsenal as we continue to expand our market-leading positions around the world. This new partnership is well-equipped to build upon our long history of innovating and consistently providing great solutions and services to our diverse customer base.”
Jefferies LLC acted as financial advisor and Gibson, Dunn & Crutcher LLP acted as legal advisor to Aurora and ADCO Global.
About Aurora Capital Group
Aurora Capital Group is a Los Angeles-based private investment firm managing over $2.0 billion of capital across several private equity funds. Aurora’s traditional private equity vehicle, Aurora Equity Partners, focuses principally on control-investments in middle-market businesses with leading market positions, strong cash flow profiles, and actionable opportunities for growth in partnership with operating management. Aurora Resurgence invests in debt and equity securities of middle-market companies and targets complex situations including corporate carve outs. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Group, please visit www.auroracap.com.
About ADCO Global, Inc.
Headquartered in Lincolnshire, IL, ADCO Global is a leading supplier of specialty adhesives, sealants, tapes, and coatings serving the Construction, Transportation, and Industrial markets throughout the world. ADCO Global is a leader in developing specialized solutions for insulating glass window, roofing, solar panel, wind, bus/trailer/RV, automotive, marine, civil engineering, telecommunications, security glass and general construction applications. For additional information on ADCO Global, please visit www.adcoglobal.com.
Sharon Stern / Joseph Berg
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Aurora Capital Group