SOUTH BEND, Ind. (Dec. 19, 2011)—Royal Adhesives & Sealants has bought Newark, N.J.-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 also will allow customers of the expanded group to benefit from a wider range of customized and proprietary solutions.
Craig's owner Vertis Communications will use the proceeds to pay off debt and invest.
Royal CEO Ted Clark 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 said.
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 specialized products.