TruArc Partners, a private equity firm focused on middle-market investments in business services and specialty manufacturing, has acquired Matrix Adhesives Group from Goldner Hawn. Financial terms of the transaction were not disclosed.
Matrix Adhesives Group develops advanced adhesive and sealant solutions, offering a broad portfolio of products across renovation and construction, industrial, commercial, and specialty applications. The company’s capabilities in formulation and specialty packaging support branded, proprietary, and private-label solutions across a diverse range of end markets. Matrix is headquartered in Columbus, Ohio, and operates five additional manufacturing facilities in the United States and one in Canada.
The acquisition aligns with TruArc Partners’ strategy of investing in specialty manufacturing businesses and partnering with management teams to drive both organic growth and acquisition-led expansion. As part of the transaction, Dennis “DJ” Johnson will continue as CEO, while Rich Rowe, former President and CEO of Arkema North America, will join Matrix as Non-Executive Chairman of the Board.
TruArc intends to support Matrix in expanding its product offerings, entering new end markets, broadening its customer base, and pursuing strategic acquisitions to accelerate growth.
Support: Chemlink Partners served as financial advisor to TruArc Partners. Houlihan Lokey and BMO Capital Markets served as financial advisors to Matrix Adhesives Group. Davis Polk & Wardwell LLP acted as legal counsel to TruArc Partners.
KEY QUOTES:
“We have been highly impressed with what Matrix has become over the past five years. The Company’s branded portfolio combined with its formulating and packaging capabilities provides a strong foundation for growth. We are excited to partner with the Matrix team to support the Company’s strategic expansion of its product offerings, end markets, and customers.”
John Pless, Co-Managing Partner, TruArc Partners
“We’re proud of what we built with Goldner Hawn and are energized by what lies ahead. With TruArc, we believe we have a strong partner that can support our continued growth, expand our capabilities, drive innovation, and help us pursue strategic acquisitions to better serve our customers.”
Dennis “DJ” Johnson, CEO, Matrix Adhesives Group
