Superior Capital Partners
LLC, a Detroit-based private equity firm, has announced the formation of Edge
Adhesives Holdings Inc., an investment platform created to acquire the assets
of Fort Worth, TX-based Q'SO Incorporated. The purchase price was not
disclosed. Edge Adhesives represents the fourth acquisition and the third
platform company for Superior's
inaugural fund, which was raised in 2007 and 2008.
Edge
Adhesives is a leading developer and manufacturer of specialty chemicals
including adhesive and sealant products that are sold to the construction and
infrastructure markets. Its products include hot-melt adhesives and
peel-and-stick membranes that are used as window flashings, roofing
underlayments or other products that seal residential and commercial structures
from air, moisture, and other elements. The company also manufactures gaskets,
butyl tapes and sealants used in the HVAC, concrete, and infrastructure
markets. Edge's innovative, proprietary and patented products are
generally composed of synthetic polymer and butyl blends, which are created and
applied without volatile organic compounds or solvents. The company expects to
generate revenue in excess of $15 million in 2010.
"Edge Adhesives is an
excellent fit for Superior's investment criteria of purchasing companies with
identified growth opportunities where our capital can reduce leverage and fund
operational improvements,” said Scott Hauncher, Superior’s managing director. “We
were attracted to the company's history of developing technology-driven,
customized solutions for its customers, as well as its strong positioning
relative to environmental and material trends in the building envelope
adhesives market, evidenced by Edge's significant new business opportunities
with large building product customers."
James Taylor, President of
Edge commented, "Our team is excited about the partnership with Superior,
an operationally focused buyer, whose funding enables us to reduce debt,
execute shop-floor profit improvements, and secure adequate working capital to
serve an expanding customer base,” said James Taylor, president of Edge. “Edge
Adhesives is an exciting platform which will continue to expand within the
adhesives market."
The strategy of Superior is to combine
capital, transaction experience and operational improvement expertise with
proven management teams who have the vision, capability, and commitment to
successfully improve and grow their businesses. Superior seeks to acquire or recapitalize
niche manufacturers, value-added distributors and specialty service companies. In
general, these companies will have annual revenue of $10 to $150 million, hold
strong market positions, and have identifiable growth opportunities.
For
more information, visitwww.superiorfund.com.
Superior Capital Forms Edge Adhesives to Acquire Q'SO Inc.
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