NEW YORK, Dec. 23, 2020 /PRNewswire/ -- Arsenal
Capital Partners ("Arsenal"), a private equity firm that invests in
middle-market specialty industrials and healthcare companies,
announced today that its coatings platform, Seal For Life
Industries ("Seal For Life"), has acquired the Canusa-CPS and
Dhatec businesses ("Canusa" or "Company") from Shawcor (TSX:
SCL-T).
Canusa offers an innovative and differentiated platform of
technically complex and highly engineered solutions through a
comprehensive portfolio of mission critical corrosion protection
solutions. The Company markets leading brands with strong
reputations and operates from a global footprint to serve its
diversified customer base. Canusa has operations in
Canada, the Netherlands, the
United States, and the United Arab
Emirates and has over 250 employees. The Company's
brands, including WrapidShrink™ and Factory Grade™ heat shrink
sleeves, Canusa-Seal™ insulated pipe systems, WrapidBond™
visco-elastic adhesives, Scar-Guard® and WrapidTape™ mechanical
protection systems, and HBE™ liquid epoxy coatings, present a
differentiated value proposition to customers with a focus on
preventing and combating corrosion, water ingress, and insulation
issues, with superior lifetime economics.
Canusa enhances Seal For Life's product coating and sealing
solutions capabilities and expands the platform into broader global
infrastructure and industrial markets and regions. Seal For
Life's current technology portfolio provides maintenance and repair
solutions that prolong the life and durability of critical
applications, such as water, natural gas, and oil pipelines, tanks
and terminals, district heating, power generation, and
petrochemical infrastructure.
Stuart Wilson, Vice President of
Canusa, said, "We are excited to partner with Seal For Life and
Arsenal given their deep expertise in the infrastructure coating
and sealants sector. Our combined and robust platform will
enhance our abilities to focus intensely on our global customers,
and to accelerate growth in key markets such as renewable energy,
industrial infrastructure, and commercial buildings."
Jeff Oravitz, CEO of Seal For
Life, remarked, "We are delighted to welcome the Canusa team to the
Seal For Life family, and look forward to working with them to
accomplish our vision of being the leading global provider of
protective coating and sealing solutions for infrastructure
markets. The incorporation of Canusa into the Seal For Life
platform increases our global scale and the ability to meet the
needs of our many global customers."
Sal Gagliardo, an Operating
Partner of Arsenal, said, "Canusa has an excellent market
reputation for providing its customers with the highest level of
performance and quality to meet stringent performance and
regulatory requirements. We look forward to supporting the
Canusa team and building the business organically and with
strategic acquisitions that will further expand our position in the
broader protective coatings and sealing solutions space for
infrastructure applications."
J.P. Morgan Securities LLC acted as financial advisor and
Stikeman as legal advisor to Shawcor. Jones Day and Fasken acted as legal advisors to
Seal For Life.
About Seal For Life
Seal For Life provides corrosion prevention, waterproofing, fire
and heat protection, and insulation products. The company
offers heat shrink sleeves to protect pipeline joints from
corrosion and degradation, cathodic protection products,
visco-elastic adhesive solutions to protect assets from corrosion
and water ingress; cold-applied and fused tape products; single
wrap pipeline coating systems; and liquid coating products.
It offers products for various markets, such as marine, splash zone
and underwater installation, onshore oil, gas, and water pipelines,
insulation, casing filler, energy, flooring, refinery, linings,
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, has completed more than 200
platform and add-on investments, and achieved more than 30
realizations. Arsenal invests in industry sectors in which
the firm has significant prior knowledge and experience. 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:
Kristen Duarte | Prosek Partners
kduarte@prosek.com
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SOURCE Arsenal Capital Partners