By: ICN Bureau
Last updated : August 18, 2021 8:36 pm
Arclin CEO Brad Bolduc and senior management team to maintain significant ownership and continue to lead the business
Arclin, a chemistry-based provider of highly technical, engineered products for the residential building products market and other industries, announced that it has signed a definitive agreement whereby an affiliate of The Jordan Company (TJC) will acquire Arclin from funds affiliated with Lone Star Funds.
Arclin's senior management team, led by CEO Brad Bolduc, will maintain a significant equity stake in Arclin and continue to lead the Company going forward. While the terms of the transaction were not disclosed, the transaction is expected to close in the third quarter of 2021.
Founded in 1992, Arclin is a leading North American manufacturer and formulator of proprietary surface overlays and specialty resins primarily for the residential building products market, as well as industrial, furniture and non-residential construction markets.
"We are excited and look forward to partnering with TJC," said Brad Bolduc, CEO of Arclin. "We believe this partnership will accelerate our growth initiatives related to organic growth, new product development, operational enhancements, and strategic acquisitions. In support of our corporate vision to remain the market leader in innovation, we will continue investing significantly in our technologies to ensure exceptional product performance for our customers and markets served."
"TJC is excited to have identified a world-class platform and management team in Arclin," said Ian Arons, Partner of TJC. "Arclin fits extremely well with our investment strategy based on our extensive experience in the specialty chemicals and building products industries. We see great growth opportunities ahead and look forward to supporting the team."
"We are excited to partner with Brad and the Arclin team to help accelerate their next phase of growth," added Barry Gallup, Jr., Vice President of TJC. "Our organizations have a strong cultural alignment, and we collectively share a customer-centric and growth-oriented focus. We look forward to a long-term partnership with Arclin and its employees."
"We are extremely proud of the growth that the Arclin team has achieved over the last several years during our ownership period," said Donald Quintin, President, Lone Star Opportunity Funds. "We have enjoyed working with Brad and his team, and we are pleased that management has identified a great partner to support the Company's next chapter of growth."
RBC Capital Markets, LLC is acting as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Arclin and Lone Star. Barclays Capital, Inc. is acting as financial advisor and Ropes & Gray LLP and Kirkland & Ellis LLP are serving as legal counsel to TJC.