Private equity firm Arsenal Capital Partners has announced the acquisition of Seal for Life Industries from Berry Global Group, for $323 million (€289.5 million).
Seal For Life has a large portfolio of corrosion protection and sealing solutions, with operations in the Netherlands, Belgium, India, Mexico and the US.
The company’s brands focus on preventing and combatting erosion, water ingress and insulation problems. Annual sales were reported at around $120 million (€107.5 million).
The acquisition will enable Arsenal to offer a platform in the coating solutions sector, providing maintenance and repair solutions that extend the life and durability of applications such as water and oil pipelines, tanks and terminals, and petrochemical infrastructure.
"We are excited to partner with Arsenal given its deep expertise in the coating and sealants sector,” commented Dirk Totte, general manager of Seal For Life. “Our strong platform combined with strategic investments and acquisitions will accelerate growth in current and new end markets such as renewable energy, infrastructure and commercial buildings."
"Seal For Life has an excellent market reputation for providing its customers with the highest level of performance and quality to meet stringent regulatory requirements,” said Sal Gagliardo, an operating partner of Arsenal. “The company continues to innovate protective and anti-corrosion solutions that are solving the market needs in the oil and water pipeline industry and in emerging applications for other core infrastructure markets. We expect to build on the company's leading market brands and accelerate the trajectory of new technologies and solutions."
Arsenal investment partner Roy Seroussi added: “Seal For Life will benefit from Arsenal's resources and expertise in the coatings and materials sector, where we have strong relevance in the company's markets and technologies. We look forward to supporting the Seal For Life team and building the business organically and with strategic acquisitions that will further expand its position in the broader coatings protection industry.”
POPULAR NEWS STORIES
LATEST VIDEOSmart valve sensors implemented by Vopak in the Port of Rotterdam