NEW YORK, July 30, 2019 /PRNewswire/ -- Arsenal Capital
Partners ("Arsenal"), a leading private equity firm that invests in
middle-market specialty industrials and healthcare companies,
announced today the acquisition of Seal For Life Industries,
LLC ("Seal For Life") from Berry Global Group, Inc. (NYSE:
BERY; "Berry") for $328 million.
Seal For Life offers an unrivaled portfolio of corrosion
protection and sealing solutions with the highest technical
specifications in the industry. The company has operations in
the Netherlands, Belgium, India, Mexico, and the
United States, with over 380 employees. Seal For
Life's complementary brands, including Anodeflex™, Stopaq®,
Polyken®, Covalence®, and Powercrete®, present a differentiated
value proposition to customers with a focus on preventing and
combating corrosion, water ingress, and insulation issues, with
superior lifetime economics. The company has annual sales of
approximately $120 million.
Seal For Life will serve as Arsenal's platform in the coating
solutions sector focusing on the global infrastructure and
industrial markets. The platform's current and future
technology portfolio provides maintenance and repair solutions that
prolong the life and durability of critical applications, such as
water and oil pipelines, tanks and terminals, power generation and
petrochemical infrastructure.
Dirk Totte, General Manager of
Seal For Life, said, "We are excited to partner with Arsenal given
its deep expertise in the coating and sealants sector. 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."
Sal Gagliardo, an Operating
Partner of Arsenal, said, "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. 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."
"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," added Roy Seroussi, an
Investment Partner of Arsenal.
J.P. Morgan Securities LLC acted as financial advisor to
Berry. William Blair &
Company acted as financial advisor and Jones Day acted as legal advisor to Arsenal.
About Seal For Life
Seal For Life provides corrosion
prevention, waterproofing, and insulation products. The
company offers plastic meshes to protect pipes and pipelines from
rocks when backfilled; cathodic protection products; visco-elastic
solutions to protect assets from corrosion and water ingress;
cold-applied and fused tape products; single wrap pipeline coating
systems; coatings for metal pipes; and liquid coating
products. It offers products for various markets, such as
marine, splash zone and underwater installation, mobile pipeline
coating, onshore oil and gas pipelines, offshore, insulation,
casing filler, energy, flooring, refinery, cathodic protection,
cables and wires, and waste water. Visit
www.sealforlife.com.
About Arsenal Capital Partners
Arsenal is a leading
private equity firm that specializes in investments in
middle-market specialty industrials and healthcare companies.
Since its inception in 2000, Arsenal has raised institutional
equity investment funds of $5.3
billion, completed more than 40 platform investments, and
achieved 30 realizations. Arsenal invests in industry sectors
in which the firm has significant prior knowledge and experience
and seeks companies typically in the range of $100 million to $500
million of initial enterprise value. The firm works
with management teams to build strategically important companies
with leading market positions, high growth, and high
value-add. Visit www.arsenalcapital.com.
Contact Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Arsenal Capital Partners