Arsenal Capital Partners has sold its portfolio company, APPLIED Adhesives, to Bertram Capital, capitalizing on the significant growth achieved under Arsenal's investment.

Information on the Target

Applied Products, Inc., known as APPLIED Adhesives, is a leading provider of adhesive solutions catering to various markets, including packaging, product assembly, paper converting, and automotive sectors. The company functions as a value-added distributor of a diverse range of adhesives—hot melt, water-based, and structural—along with dispensing equipment. APPLIED Adhesives plays a vital role in the supply chain for several notable adhesive manufacturers and formulators, offering extensive reach, superior service levels, and deep technical expertise to an expansive customer base. Additionally, the company boasts a robust portfolio of private label adhesives and equipment under multiple brands such as ASURE, Adhezion, InfinityBond, Pacific Adhesives, AST Equipment, and KEYSTONE.

Industry Overview in the Target’s Specific Country

The adhesive industry is witnessing substantial growth globally, spurred by technological advancements, increased demand from various end-use industries, and rising awareness of sustainable and eco-friendly products. In the U.S., the market has been particularly resilient, driven by trends in packaging, construction, and automotive. Significant investments in product innovation and digitization have enabled companies to enhance operational efficiencies and customer engagement.

Recent years have seen heightened activity in mergers and acquisitions within the adhesive sector, indicating a trend towards consolidation as companies seek to broaden their product off