The Urethane Blog
March 18, 2021
BASF to increase prices for polyurethane systems products in North America
WYANDOTTE, MI, March 15, 2021 – BASF will increase prices for polyurethane systems
products in North America by $0.13/lb for orders shipping on or after March 30, 2021, or as
contracts allow.
March 18, 2021
Arsenal Acquires Applied Adhesives NEW YORK, NY and MINNEAPOLIS, MN. March 15, 2021 – Goldner Hawn, LP (“Goldner Hawn”) announced the sale of Applied Products, Inc. (“Applied Adhesives”), a leading manufacturer and value-added distributor of adhesive products and thermal product solutions in North America, to Arsenal Capital Partners (“Arsenal”). The terms of the transaction were not disclosed.
Applied Adhesives 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.
“We are grateful for the outstanding support Goldner Hawn has provided us over the past four years,” said John Feriancek, President and Chief Executive Officer of Applied Adhesives. “As we look toward the future, we are thrilled to partner with Arsenal. With its backing, we will continue to execute on our growth initiatives and strive to be the adhesive solutions partner of choice for businesses throughout North America.
Chad Cornell, a Partner at Goldner Hawn, added, “It has been a pleasure for Goldner Hawn to partner with Dan Horner and Brian Webb in growing Applied Adhesives, both organically and inorganically, more than tripling its size during the course of our investment, and John has proven to be a fantastic successor to Dan and Brian. He led a number of successful add-on acquisitions for the company and is the right leader to continue Applied Adhesives’ growth. We wish John, his team, and Arsenal all the best in Applied Adhesives’ next chapter.”
Roy Seroussi, an Investment Partner of Arsenal, commented, “We are delighted to partner with John and his team and excited to have Dan continue on the board. Arsenal brings decades of domain and technical expertise in the adhesives and sealants market, and we are excited to support Applied Adhesives’ organic and acquisition growth initiatives and continue to build the company as a leading value-added distributor.”
Applied Adhesives represents Arsenal’s third platform investment in the adhesives and sealants market, following Arsenal’s former investment Royal Adhesives & Sealants and its current investment Meridian Adhesives Group.
BlackArch Partners served as the exclusive financial advisor to Applied Adhesives and Goldner Hawn, with Faegre Drinker Biddle & Reath LLP serving as legal advisor. Kirkland & Ellis LLP served as legal advisor to Arsenal.
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, please visit us at www.appliedadhesives.com. About Goldner Hawn Goldner Hawn was founded in 1989 in Minneapolis, Minnesota 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, please call 612-338-5912 or 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, 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.
March 18, 2021
Arsenal Acquires Applied Adhesives NEW YORK, NY and MINNEAPOLIS, MN. March 15, 2021 – Goldner Hawn, LP (“Goldner Hawn”) announced the sale of Applied Products, Inc. (“Applied Adhesives”), a leading manufacturer and value-added distributor of adhesive products and thermal product solutions in North America, to Arsenal Capital Partners (“Arsenal”). The terms of the transaction were not disclosed.
Applied Adhesives 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.
“We are grateful for the outstanding support Goldner Hawn has provided us over the past four years,” said John Feriancek, President and Chief Executive Officer of Applied Adhesives. “As we look toward the future, we are thrilled to partner with Arsenal. With its backing, we will continue to execute on our growth initiatives and strive to be the adhesive solutions partner of choice for businesses throughout North America.
Chad Cornell, a Partner at Goldner Hawn, added, “It has been a pleasure for Goldner Hawn to partner with Dan Horner and Brian Webb in growing Applied Adhesives, both organically and inorganically, more than tripling its size during the course of our investment, and John has proven to be a fantastic successor to Dan and Brian. He led a number of successful add-on acquisitions for the company and is the right leader to continue Applied Adhesives’ growth. We wish John, his team, and Arsenal all the best in Applied Adhesives’ next chapter.”
Roy Seroussi, an Investment Partner of Arsenal, commented, “We are delighted to partner with John and his team and excited to have Dan continue on the board. Arsenal brings decades of domain and technical expertise in the adhesives and sealants market, and we are excited to support Applied Adhesives’ organic and acquisition growth initiatives and continue to build the company as a leading value-added distributor.”
Applied Adhesives represents Arsenal’s third platform investment in the adhesives and sealants market, following Arsenal’s former investment Royal Adhesives & Sealants and its current investment Meridian Adhesives Group.
BlackArch Partners served as the exclusive financial advisor to Applied Adhesives and Goldner Hawn, with Faegre Drinker Biddle & Reath LLP serving as legal advisor. Kirkland & Ellis LLP served as legal advisor to Arsenal.
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, please visit us at www.appliedadhesives.com. About Goldner Hawn Goldner Hawn was founded in 1989 in Minneapolis, Minnesota 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, please call 612-338-5912 or 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, 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.
March 17, 2021
TRInternational CEO Megan Gluth-Bohan Assumes 100% Company Ownership
Seattle, WA, March 17, 2021 –(PR.com)– Just shy of a decade of service at TRInternational, CEO Megan E. Gluth-Bohan, Esq. has assumed 100 percent ownership of the chemical distribution company located in Edmonds, WA. Ms. Gluth-Bohan joined the company in 2012 as General Counsel and quickly moved from General Manager to President to CEO and co-owner.
TRI was founded in 1994 by Anthony M. Ridnell, who built the company into an international leader in chemical distribution with offices in the Puget Sound and in Asia. “I am delighted for TRI’s future under Megan’s continued leadership and ownership,” says Ridnell. “There isn’t a more talented or capable individual in this industry, TRI is in great hands for future growth.”
“I greatly respect and appreciate the foundational structure that Tony built over the last 27 years,” says Gluth-Bohan. “My charge is to carry forth the best aspects of the company and Tony’s legacy while innovating for the future. We have a strong and solid history behind us and are able to approach this new chapter with open eyes and fresh ideas.”
Under Gluth-Bohan’s leadership, TRI continued to thrive during the global pandemic, shifting resources and reallocating shipments to ensure their customers received the products and materials they needed to provide front line workers and vulnerable populations with safe and effective PPE and sanitizing products.
“The commitment of the people and the suppliers that we work with to do the right thing is so impressive,” says Gluth-Bohan. “Chemicals touch everything. They save lives; they make the world happen. TRI is proud to play an integral role in this industry.”
Going forward, Gluth-Bohan envisions a thriving business enterprise where employees can spend the entirety of their careers. She notes that while some TRI employees are professionally trained in the sciences, it is not necessary to have a science degree to succeed at TRI – she doesn’t have one.
“This industry is dynamic and deeply fascinating to me,” she says. “I look at passion, character, and work ethic. If you have the drive and the talent, you will have opportunity at TRI.”
Her ultimate goal is a robust and healthy company with satisfied employees who are committed to serving their customers and who will innovate and contribute to the evolution of both TRI and the chemical distribution industry. TRI currently has 18 employees in Washington State and 30 worldwide. In 2020, their total revenue was $77.6 million.
“I am pleased to congratulate Megan on becoming the sole owner of TRInternational, Inc. She has proven her dedication to not only TRInternational but to the whole chemical distribution industry over the last decade,” says Eric R. Byer, president and CEO, National Association of Chemical Distributors (NACD). “I know she will continue to practice her pragmatic and steady leadership in this new role, and we look forward to having her as the first female chairman at NACD in a few years.”
Ms. Gluth-Bohan was named as one of Puget Sound Business Journal’s “40 under 40” in 2016. She is the first woman to serve as an officer on the Board of Directors of the National Association of Chemical Distributors (NACD).
TRI holds many business certifications including the Women’s Business Enterprise National Certification (WBENC), National Gay and Lesbian Chamber of Commerce (NGLCC), and Small Business Association Woman Owned Small Business (SBA WOSB). In June 2020, TRI was ranked #1 on the Puget Sound Business Journal’s largest LGBTQ-Owned Companies List.
About TRInternational, Inc.
TRI’s unique approach to chemical distribution offers a variety of products and services tailored to fit the needs of each customer. Founded in 1994 and headquartered just north of Seattle in Edmonds, WA, TRI has regional offices throughout the United States and Global Sourcing offices in Shanghai, China and Seoul, South Korea. TRI is an active member of the National Association of Chemical Distributors (NACD) and participates in the Responsible Distribution verification process.
March 17, 2021
TRInternational CEO Megan Gluth-Bohan Assumes 100% Company Ownership
Seattle, WA, March 17, 2021 –(PR.com)– Just shy of a decade of service at TRInternational, CEO Megan E. Gluth-Bohan, Esq. has assumed 100 percent ownership of the chemical distribution company located in Edmonds, WA. Ms. Gluth-Bohan joined the company in 2012 as General Counsel and quickly moved from General Manager to President to CEO and co-owner.
TRI was founded in 1994 by Anthony M. Ridnell, who built the company into an international leader in chemical distribution with offices in the Puget Sound and in Asia. “I am delighted for TRI’s future under Megan’s continued leadership and ownership,” says Ridnell. “There isn’t a more talented or capable individual in this industry, TRI is in great hands for future growth.”
“I greatly respect and appreciate the foundational structure that Tony built over the last 27 years,” says Gluth-Bohan. “My charge is to carry forth the best aspects of the company and Tony’s legacy while innovating for the future. We have a strong and solid history behind us and are able to approach this new chapter with open eyes and fresh ideas.”
Under Gluth-Bohan’s leadership, TRI continued to thrive during the global pandemic, shifting resources and reallocating shipments to ensure their customers received the products and materials they needed to provide front line workers and vulnerable populations with safe and effective PPE and sanitizing products.
“The commitment of the people and the suppliers that we work with to do the right thing is so impressive,” says Gluth-Bohan. “Chemicals touch everything. They save lives; they make the world happen. TRI is proud to play an integral role in this industry.”
Going forward, Gluth-Bohan envisions a thriving business enterprise where employees can spend the entirety of their careers. She notes that while some TRI employees are professionally trained in the sciences, it is not necessary to have a science degree to succeed at TRI – she doesn’t have one.
“This industry is dynamic and deeply fascinating to me,” she says. “I look at passion, character, and work ethic. If you have the drive and the talent, you will have opportunity at TRI.”
Her ultimate goal is a robust and healthy company with satisfied employees who are committed to serving their customers and who will innovate and contribute to the evolution of both TRI and the chemical distribution industry. TRI currently has 18 employees in Washington State and 30 worldwide. In 2020, their total revenue was $77.6 million.
“I am pleased to congratulate Megan on becoming the sole owner of TRInternational, Inc. She has proven her dedication to not only TRInternational but to the whole chemical distribution industry over the last decade,” says Eric R. Byer, president and CEO, National Association of Chemical Distributors (NACD). “I know she will continue to practice her pragmatic and steady leadership in this new role, and we look forward to having her as the first female chairman at NACD in a few years.”
Ms. Gluth-Bohan was named as one of Puget Sound Business Journal’s “40 under 40” in 2016. She is the first woman to serve as an officer on the Board of Directors of the National Association of Chemical Distributors (NACD).
TRI holds many business certifications including the Women’s Business Enterprise National Certification (WBENC), National Gay and Lesbian Chamber of Commerce (NGLCC), and Small Business Association Woman Owned Small Business (SBA WOSB). In June 2020, TRI was ranked #1 on the Puget Sound Business Journal’s largest LGBTQ-Owned Companies List.
About TRInternational, Inc.
TRI’s unique approach to chemical distribution offers a variety of products and services tailored to fit the needs of each customer. Founded in 1994 and headquartered just north of Seattle in Edmonds, WA, TRI has regional offices throughout the United States and Global Sourcing offices in Shanghai, China and Seoul, South Korea. TRI is an active member of the National Association of Chemical Distributors (NACD) and participates in the Responsible Distribution verification process.
Everchem Updates Archive 
Sign Up for Email Updates