American Securities Acquires Meridian Adhesives Group from Arsenal Capital Partners

New York, NY, September 8, 2022 – American Securities LLC (“American Securities”) and Arsenal Capital Partners (“Arsenal”) today announced that an affiliate of American Securities has acquired Meridian Adhesives Group (“Meridian” or the “Company”), in partnership with the management team and funds affiliated with Arsenal. Financial terms of the transaction were not disclosed.

Meridian is a leading producer of high-performance advanced adhesives for electronics, infrastructure, and industrial end markets. The Company sells a broad portfolio of chemistries and focuses on niche applications that require custom solutions and complex formulations. Meridian operates 25 facilities and serves over 5,000 customers in North America, Asia Pacific, and Europe. The Company is headquartered in Houston, TX and employs approximately 560 people globally.

“We are grateful for the support of Arsenal over the past four years as we established Meridian as the go-to solution provider in the industry,” said Dan Pelton, Chief Executive Officer of Meridian. “We are excited about Meridian’s next phase of growth and our new partnership with American Securities.”

“The time that we have spent evaluating and investing in companies in the adhesives space gives us immense appreciation for Meridian’s leadership positions in attractive and growing end markets and applications,” commented Scott Wolff, a Managing Director of American Securities. “We are excited to support the Company’s organic growth and M&A strategies, innovation, and continued operational excellence so that Meridian can continue to solve problems for its customers.”

“Meridian’s growth has been a result of focusing on positive long-term trends in technologies and end markets, coupled with hard work from a talented leadership team and employee base,” said Roy Seroussi, an Investment Partner of Arsenal. “We look forward to our continued partnership with the Company and American Securities as we build a leading, global adhesives company.”

Morgan Stanley & Co. LLC acted as financial advisors to American Securities and Weil, Gotshal & Manges LLP served as legal counsel. Citi and Moelis & Co. LLC acted as financial advisors to Meridian and Benesch, Friedlander, Coplan & Aronoff LLP served as legal counsel with respect to the transaction.

About Meridian Adhesives Group

Meridian Adhesives Group is a leading manufacturer of high-value adhesive technologies. With a broad portfolio of dynamic solutions, Meridian serves the electronics, infrastructure, and industrial (flooring, packaging, and product assembly) markets. The group’s operations are located in the Americas, EMEA and Asia, with a multitude of sales/service offices worldwide that are positioned to serve Meridian’s global customer base. For more information, visit https://meridianadhesives.com.

About American Securities LLC

Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $26 billion under management. For more information, visit www.american-securities.com.

About Arsenal Capital Partners

Arsenal Capital Partners is a leading private equity firm that specializes in investments in industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 250 platform and add-on acquisitions, 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.

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The distance between points of corresponding phase of two consecutive cycles of a wave. The wavelength is related to the propagation velocity, and the frequency. It is indirectly proportional to frequency.

Wavelength Isolation

A WDM’s isolation of a light signal in the desired optical channel from the unwanted optical channels. Also called far-end crosstalk.

Wetting

The thorough impregnation of a material by a liquid. The more viscous a fluid, and the higher its surface tension, the more difficult it is for the liquid to “wet” materials. Certain additives, for example, water softeners, reduce surface tension, or viscosity and improve wetting properties, allowing the material to flow out more.

Wetting Balance

An instrument used to measure wetting forces, and consequently, estimate solderability.

Whisker

A metallic growth, needle-like in size, that appears on the surface of a PCB.

Wire Bonding

The use of fine wires to connect semiconductor packages to the next level of packaging. Wires are composed of gold or aluminum.

Working life

The period of time during which an epoxy after mixing with a curing agent, remains workable and suitable for use.

Yield Strength

The load in pounds per square inch where the material under test begins to change dimensions and will not completely recover when the load is removed. Yield strength will normally be lower than ultimate strength. Generally speaking, the more rigid a material is, the closer will be yield and ultimate strengths. Furthermore, the more resilient a material is, the greater the spread between yield and ultimate strengths.

Transmitter

A device that includes a source and driving electronics. It functions as an electricalto-optical converter.

UL

Underwriter’s Laboratory.

Ultrasonic Cleaning

The use of ultrasonic energy along with a chemical solvent to clean a component or a PCB assembly immersed in solvent. Mechanical oscillation is introduced by the ultrasonic energy to facilitate cleaning.

Ultraviolet

The invisible region of the spectrum just beyond the violet end of the visible region. Wavelengths range from 1 to 400 nm.

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In flip chip applications, the material injected under the die after testing to ensure reliability. This material is particularly important for flip chips mounted on substrates with different CTEs than silicon, such as FR-4 and some ceramics.

UV

Ultraviolet.

V

Volt. Unit of eletric potential, also known as electromotive force. Represents the potencial difference between two points of a conducting wire carrying a constant current of 1 ampere when the power dissipated between these points is equal to 1 watt.

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Drilled holes in laminate that interconnect different layers of circuitry. Vias can be used for electrical connections or thermal dissipation.

Viscosity

The property of resistance to flow exhibited within the body of a fluid. Usually measured in centipoise.

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Electromagnetic radiation visible to the human eye; wavelengths of 400-700 nm.