Private equity firm Superior Capital Partners has sold Edge Adhesives to a buyer group led by Gladstone Investment Corporation and Akoya Capital Partners.
The company will continue to be led by the current executive management team. Terms of the transaction have not been disclosed.
Headquartered in Fort Worth, Texas, Edge specialises in butyl and block co-polymer technologies.
Scott Hauncher, a managing director at Superior, says: "The Edge story showcases several of the key initiatives Superior expects to achieve as a special situations fund. When we acquired Edge in 2010, it was an underperforming and capital constrained business. Through our industry diligence, we confirmed that the company had great products and on-trend, environmentally friendly adhesive technologies. During our ownership Edge brought in a new CEO, more than doubled revenue in the base business, completed multiple acquisitions at attractive valuations and re-established itself as a market leader in its industry."
Dave Burger, Edge CEO, says: "We wish to thank Superior for their partnership throughout a dynamic period of growth and change. Their support in helping turn around Edge and in the acquisitions of Rubex, Parr and Plioseal was invaluable in the growth of our business. We appreciate their contributions and look forward to the next phase of Edge's expansion with our new partners, Gladstone and Akoya."
Grace Matthews served as the financial advisor and Honigman Miller Schwartz & Cohn served as the legal advisor to the company.
