The acquisition builds on Royal’s platform of adhesives, sealants and coatings and allows clients of both companies to benefit from an expanded range of customized and proprietary solutions, according to Royal CEO Ted Clark.
“We are excited to add Craig’s market-leading ultraviolet and water based adhesives and coatings products to our growing platform, and welcome Craig’s employees and clients to the Royal family,” says Clark. “As a leading producer of high-performance adhesives, sealants and coatings, we look forward to working with the Craig team to advance our combined product portfolio and expand our presence in the packaging and graphic arts market.”
John Televantos, a partner at Arsenal Capital, says, “Craig has a long history of innovation in the fast growing market for ultraviolet light cured adhesives and coatings, and is providing great solutions and service to the packaging, printing and lamination markets. The acquisition of Craig and merger with Royal represents an important milestone in our strategy to further build a leading adhesives, sealants and coatings business offering customized and proprietary solutions.”
Vertis President and CEO Gerald Sokol Jr. states, “Vertis is intensely focused on growing our cross-media solutions and on ensuring that each business within this strategy is well-positioned to gain share in its market. After careful consideration, we recognized that Craig clients and employees would realize substantial benefit as part of a larger organization that focuses on the adhesives and sealants industry. We have been very impressed with the commitment and expertise of the Royal team and are confident that Craig will be well positioned for growth under this new ownership.”
The transaction includes a long-term supply agreement between Royal and Vertis, which allows Vertis continued access to Craig’s specialized products. Vertis will continue to deliver the innovative solutions and high-quality services its clients expect without disruption.
Royal Adhesives & Sealants is a producer of proprietary, high-performance adhesives, sealants, coatings and polymers. Headquartered in South Bend, IN, USA, the company offers a range of specialty formulated products designed to solve complex bonding, laminating and sealing supplications across a diverse range of markets, including aerospace and defense, construction, specialty packaging, automotive and industrial.