Superior Capital Partners LLC, a Detroit-based private equity firm, has acquired Rubex as an add-on acquisition to its Fort Worth, Texas-based specialty chemicals portfolio company, Edge Adhesives. The transaction represents the seventh acquisition from Superior’s 2008 inaugural fund and the third acquisition in 2011.
Edge Adhesives acquired Rubex from Chemence Inc, a diversified chemicals company with operations in the United States and the United Kingdom.
Based in Columbus, Ohio, Rubex is a manufacturer of engineered butyl mastics, converted tapes and sealants that are used in electrical, automotive, construction, and industrial applications. The Rubex acquisition expands Edge’s end markets, manufacturing capacity and portfolio of high performance adhesives and sealants.
Edge Adhesives also recently named Dave Burger as its President and Chief Executive Officer. Burger is a 25-year veteran of the adhesives and sealants industry and a former executive for 3M Company’s industrial adhesives business unit. Dave is also the former Chairman of the Board of the Adhesives & Sealants Council.
"I am extremely excited to lead Edge Adhesives and Rubex," says Burger. "The partnership between Edge and Rubex creates a more diverse and substantial player in the industry with complementary manufacturing locations in Ohio and Texas. The combined company possesses several unique formulations and adhesive technologies that offer performance and environmental qualities that are among the best in the industry."
Scott Hauncher (pictured), Superior’s Managing Director, says: "This is a highly-complementary add-on acquisition for Edge Adhesives. Rubex brings identified growth opportunities that can be pursued with Edge’s leadership, sales and product development support. The combined company will execute on these growth opportunities and seek to grow through additional acquisitions in the industry. Rubex was a non-core division of Chemence that we learned about through our industry contacts. Our experience in acquiring non-core assets enabled us to close the deal on a very compressed timeframe."
