SOUTH BEND, Ind.—Royal Adhesives & Sealants L.L.C. has acquired the stock of Adhesive Systems Inc., a manufacturer of cyanoacrylate, methyl methacrylate, epoxy and anaerobic adhesives for assembly applications.
ASI, based in Frankfort, Ill., was founded 25 years ago and serves a variety of industries, such as automotive, aerospace/aviation, medical equipment, military, electronics, general industrial, appliances, plastics molding, furniture manufacturing and filtration.
Royal confirmed the acquisition in a Jan. 4 news release, which added that ASI's founders—President Ed Koziol and Vice President Gary Johnson—will continue to run the business as part of Royal.
“We are excited to acquire ASI and partner with the company's founders, both of whom are longtime adhesive industry entrepreneurs and have built a leading assembly adhesives business,” Royal Adhesives CEO Ted Clark said a statement.
Koziol said in a statement that Royal was in the best position to help the firm accelerate its growth strategy through the addition of other adhesive technologies to its product line and through the support of ASI's geographic expansion plans.
“We are very pleased to partner with Royal, which has significant global capability and experience in the adhesives and sealants industry,” Johnson said in a statement. “Royal has been aggressively growing their business and will help us to develop and grow our unique and innovative assembly adhesive business model.”
Royal Adhesives & Sealants is a global developer and manufacturer of high-performance adhesives and sealants. Headquartered in South Bend, the firm serves the aerospace and defense, construction, specialty packaging, automotive and industrial markets.
American Securities, a U.S. private equity firm with about $15 billion under management, acquired Royal in 2015. The firm is based in New York with an office in Shanghai. It invests in North American companies with annual revenues ranging from $200 million to $2 billion and $50 million to $200 million of EBITDA.