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BlackArch Partners Advises Goldner Hawn on the Sale of Applied Adhesives to Arsenal Capital Partners

CHARLOTTE, NC (March 16, 2021) – BlackArch Partners LLC (“BlackArch”) is pleased to announce that Applied Products, Inc. (“Applied Adhesives” or the “Company”), a portfolio company of Goldner Hawn, LP (“Goldner Hawn”), has been acquired by Arsenal Capital Partners (“Arsenal”).  

Applied Adhesives, headquartered in Minnetonka, MN, is a comprehensive provider of adhesive solutions for the packaging, paper converting, graphic arts, bottle labeling, product assembly, and woodworking industries. The Company is a value-added distributor of hot melt, water-based, and reactive adhesives as well as dispensing equipment. Applied Adhesives serves as a critical supply chain partner to leading adhesive manufacturers and formulators by offering reach and high service levels to an expansive customer base. Since Goldner Hawn partnered with Applied Adhesives in 2017, the Company has completed five acquisitions.

BlackArch was retained by Applied Adhesives and Goldner Hawn to serve as the Company’s exclusive financial advisor. The transaction builds upon BlackArch’s significant momentum in the specialty distribution sector and is a further example of the firm’s ability to drive superior outcomes for market leaders transforming channel dynamics in segments where manufacturers are increasingly relying on distribution partners to serve customers.

John Feriancek, President and CEO of Applied Adhesives, stated, “The entire BlackArch team impressed us at every turn with their knowledge of the market, attention to detail, and crisp execution.  They drove a great outcome for our shareholders and helped us find the ideal investment partner for the next chapter in Applied Adhesives’ growth.”

Chad Cornell, Partner, and Joe Helms, Principal, at Goldner Hawn, added, “BlackArch did a great job leading the sale process for Applied Adhesives. The entire BlackArch team from top to bottom was instrumental in executing a thoughtful process and delivering an outstanding outcome for Applied Adhesives and Goldner Hawn. Their around-the-clock attention and strategic advice every step of the way distinguishes them in the M&A marketplace.”

About Applied Adhesives

Founded in 1971, Applied Adhesives provides innovative and cost-effective solutions to customers throughout North America via the company’s manufacturing capabilities and its partnerships with the world’s premier adhesive and thermal product manufacturers. For more information, visit www.appliedadhesives.com.

About Goldner Hawn

Goldner Hawn was founded in 1989 in Minneapolis, MN and has been a source of private capital to leading lower middle market companies for the past 30 years. With an investment philosophy centered on the principle of partnership, Goldner Hawn is looking to back management teams of businesses with $5 million to $20 million of EBITDA in industries including industrial manufacturing, value-added distribution, consumer products and services, and outsourced business services. Goldner Hawn has made over 40 platform investments in companies with total transaction values approaching $3 billion. For more information, visit www.goldnerhawn.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 200 platform and add-on investments and achieved more than 30 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For more information, visit www.arsenalcapital.com.

About BlackArch Partners

BlackArch is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. Please visit our website, www.blackarchpartners.com, for more details.