South Bend, Indiana -- Royal Adhesives & Sealants has bought Newark, New Jersey-based Craig Adhesives & Coatings.
Craig is a supplier of ultraviolet-light cured and water-based adhesives and coatings to the printing and graphic arts markets. Royal said the deal builds on its own "strong platform of leading adhesives, sealants and coatings." It will also allow customers of the expanded group to benefit from a wider range of customised and proprietary solutions.
Craig's owner Vertis Communications will use the proceeds to pay off debt and invest.
Ted Clark, chief executive officer of Royal, said, "As a leading producer of high-performance adhesives, sealants and coatings, we look forward to working with the Craig team to advance our combined product portfolio and expand our presence in the packaging and graphic arts market."
John Televantos, a partner at Arsenal Capital Partners, owners of Royal, noted Craig's history of innovation in the fast growing market for UV-cured materials for the packaging, printing and lamination markets. The deal, "represents an important milestone in our strategy to further build a leading adhesives, sealants and coatings business offering customized and proprietary solutions," Televantos commented.
Royal's history of acquisition includes buying the industrial water-based adhesives business of Basic Adhesives in April 2006, those of ESC Adhesives in December 2004, Hardman Adhesives in June 2005 and J&R industries in December 2005.
Under the transaction Royal will set up a long-term supply agreement to allow Vertis continued access to Craig's specialised products. Craig Adhesives & Coatings' adhesives and coatings for printing and graphic arts include materials with topical clarity and no-edge curling for a no-label look, as well as ones with extreme resistance to abrasive wear, very high slip without contamination of adhesives, heat and water-vapour resistance, and more.
Royal Adhesives & Sealants, headquartered in South Bend, Indiana, offers a broad range of speciality formulated products designed to solve complex bonding, laminating and sealing supplications across a diverse markets. These include aerospace and defence, construction, speciality packaging, automotive and industrial.
The company range covers customised thermosetting epoxy and urethane, solvent-based and water-based technologies to meet demanding adhesive and sealant applications.
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