Royal Buys Adhesives Packaging
This is the 10th acquisition for Royal since Chief executive Ted Clark bought the company with PE backers in 2003
Royal Holdings Inc. has made its 10th acquisition since chief executive Ted Clark bought the company in 2003 with the help of private equity backers, acquiring Adhesives Packaging Specialties Inc. for an undisclosed amount.
Peabody, Mass.-based Adhesives Packaging provides custom packaging services for adhesives, sealants and resins.
"We plan to leave it as an independent unit and platform to build a larger custom packager of adhesives and sealants business," says Clark.
Royal Holdings is the parent company of Royal Adhesives and Sealants LLC.
Royal Holdings made the purchase through its Royal Packaging Specialties subsidiary.
Royal is owned by New York private equity firm Arsenal Capital Partners. The firm has $1.4 billion in committed capital. Besides Royal Holdings, its investments include Charter Brokerage, IGM Resins and Tempo Financial Holdings Corp.
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