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Woodbridge International Closes Sale of Chemque to Royal Adhesives & Sealants

September 4, 2014

Woodbridge International, a global middle-market M&A firm, is pleased to announce the acquisition of its client, Chemque, Inc., a specialty manufacturer of high-performance polymers such as epoxy, polyurethane, silicone and hybrid resin systems. Chemque was acquired by Royal Adhesives & Sealants LLC (Royal) a portfolio company of Arsenal Capital Partners (Arsenal).

Based in Toronto, Canada, Chemque is a major supplier of polyurethane foams and adhesives to the telecom, flooring and construction markets. The add-on acquisition builds on Royal’s platform of adhesive, sealant and coating solutions.

The transaction was managed by Woodbridge Senior M&A Advisors, Brace Carpenter and Tom Hawke, who are based in the firm’s Boston office. Woodbridge’s extensive global marketing campaign for Chemque resulted in 29 Indications of Interest (IOIs) from a broad range of buyers.

Ted Clark, Chief Executive Officer of Royal, said in the company’s announcement of the deal, “Chemque’s polyurethane adhesives and foams will add to our growing portfolio of leading adhesives and sealants technologies and we look forward to working with the Chemque team to successfully integrate the Chemque business into Royal.”

Chemque Chief Executive Officer Alex Botrie stated in Royal’s announcement, “The time is now right for Chemque to be part of a larger organization with the same operating philosophy and where we have a great market fit. The company is now better positioned to continue offering the customer support and service going forward that our customers demand.”

About Chemque

Chemque based in Rexdale, Canada is a specialty adhesive manufacturer that has been in business for 41 years. The company is ISO 9001 certified and produces quality polyurethane adhesives, sealants and application equipment. Chemque also provides specialized packaging for the construction, utility and assembly markets.

About Royal Adhesives & Sealants, LLC

Royal Adhesives & Sealants is a leading producer of proprietary, high-performance adhesives, sealants, coatings and polymers. Headquartered in South Bend, Indiana, Royal offers a broad range of specialty formulated products designed to solve complex bonding, laminating and sealing applications across a diverse range of markets, including aerospace and defense, construction, specialty packaging, automotive and industrial. The company offers a broad spectrum of customized thermosetting epoxy and urethane, solvent-based and water-based technologies to meet the most demanding adhesive and sealant applications.

About Arsenal Capital Partners

Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has $1.7 billion of committed equity capital.