Volume 48, Issue 7- July 2013
Private Equity Firm Wind Point Partners
Acquires Argotec Inc.
“[The sale was part of] a long-planned exit strategy for our co-chairmen, Dick Barnes and Steve Wolkenbreit, who founded Argotec in 1988,” says Bruce Wilby, CEO and chairman of the board for Argotec. “Simply put, they wanted to retire.”
Paul Peterson, a managing director at WPP, adds, “Argotec is a solid business that has performed well under their current leadership. They provide a unique product with an intense focus on quality, and we believe that these key strengths can be leveraged to continue Argotec’s vigorous growth in North America and internationally.”
H.B. Fuller. to Acquire Plexbond Quimica S/A
H.B. Fuller Co. has signed an agreement to purchase adhesives company Plexbond Quimica S/A, a provider of chemical polyurethane specialties and polyester resins. This business generated nearly $20 million in revenue for the 2012 fiscal year and operates a manufacturing facility in Curitiba, Brazil.
The Plexbond Quimica business works closely with customers to develop adhesives solutions, which H.B. Fuller says will allow it to leverage the value of the company’s existing technologies.