Volume 36, Issue 12, December 2001
Uniroyal Adhesives Sells Gunther
A new company formed by former managers of Uniroyal Adhesives and Sealants has announced the acquisition of Gunther Mirror Mastics. Newly formed Quest Specialty Chemicals (QSC) has acquired Gunther’s parent company, Uniroyal Adhesives and Sealants. Gunther Mirror Mastics will remain in South Bend, Ind., but it will now be known as a division of Royal Adhesives and Sealants LLC.
QSC was founded this year by chief executive officer Frederick A. Quinn, a 27-year veteran of the specialty coatings, adhesives and plastics industries, and two private equity investment firms: Max Capital Partners L.P. of Westport, Conn., and Edgewater Capital Partners of Chagrin Falls, Ohio. It was formed as the acquisition vehicle for the adhesives and sealants division of Uniroyal Technology Corp.
Jim Elgin, former vice president and general manager of Uniroyal’s specialty adhesives unit, has been named president of Royal Adhesives and Sealants. “It is exciting to become part of a company whose objective is to build a solid position in the specialty chemical industry,” said Elgin.
“We are pleased and excited with this first acquisition that has both the niche position and leadership we seek along with a strong management team. Combining this acquisition with strong financial backing provides us with the platform to build a substantial company in the future,” stated Quest’s Quinn.
National sales manager Robert J. Cline, customer service representative Kim Sobchak and marketing services representative Sarah Harkleroad are all moving with Gunther and have become QSC employees.
LD Industries Purchases Prestik Manufacturing Assets
LD Industries of Toronto has purchased the assets of Mississauga, Ontario-based Prestik Manufacturing Inc.
“It’s a good thing for our company, and good all the way around,” said Pete Laurence of Prestik. “LD Industries is a strong company and they have a lot of equipment that makes it possible for us to do a lot in house that we couldn’t do before. It makes the combination of the two even better,” he added.
Prestik has moved into LD’s Toronto facility and will operate there as a division of the company.
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