The Jordan Company | August 17, 2021
Arclin, Inc. ("Arclin" or the "Company"), a chemistry-based provider of highly technical, engineered products for the residential building products market and other industries, today announced that it has signed a definitive agreement whereby an affiliate of The Jordan Company, L.P. ("TJC") will acquire Arclin from funds affiliated with Lone Star Funds. Arclin's senior management team, led by CEO Brad Bolduc, will maintain a significant equity stake in Arclin and continue to lead the Company going forward. While the terms of the transaction were not disclosed, the transaction is expected to close in the third quarter of 2021.
Founded in 1992, Arclin is a leading North American manufacturer and formulator of proprietary surface overlays and specialty resins primarily for the residential building products market, as well as industrial, furniture and non-residential construction markets. The Company serves high-growth applications, which are expected to continue benefiting significantly from positive trends in the market. Arclin's IP protected, proprietary products and assets drive key performance characteristics, and the Company maintains long-term relationships with its blue-chip customers and suppliers. Headquartered in Roswell, GA, the Company operates out of 12 manufacturing facilities and maintains over 600 employees.
"We are excited and look forward to partnering with TJC," said Brad Bolduc, CEO of Arclin. "We believe this partnership will accelerate our growth initiatives related to organic growth, new product development, operational enhancements, and strategic acquisitions. In support of our corporate vision to remain the market leader in innovation, we will continue investing significantly in our technologies to ensure exceptional product performance for our customers and markets served."
"TJC is excited to have identified a world-class platform and management team in Arclin," said Ian Arons, Partner of TJC. "Arclin fits extremely well with our investment strategy based on our extensive experience in the specialty chemicals and building products industries. We see great growth opportunities ahead and look forward to supporting the team."
"We are excited to partner with Brad and the Arclin team to help accelerate their next phase of growth," added Barry Gallup, Jr., Vice President of TJC. "Our organizations have a strong cultural alignment, and we collectively share a customer-centric and growth-oriented focus. We look forward to a long-term partnership with Arclin and its employees."
"We are extremely proud of the growth that the Arclin team has achieved over the last several years during our ownership period," said Donald Quintin, President, Lone Star Opportunity Funds. "We have enjoyed working with Brad and his team, and we are pleased that management has identified a great partner to support the Company's next chapter of growth."
RBC Capital Markets, LLC is acting as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Arclin and Lone Star. Barclays Capital, Inc. is acting as financial advisor and Ropes & Gray LLP and Kirkland & Ellis LLP are serving as legal counsel to TJC.
Arclin is a leading provider of chemistry-based resin and surfacing solutions for the building, design, energy, agriculture, transportation and other industries. Headquartered in Roswell, Georgia, Arclin has offices and manufacturing facilities throughout the U.S. and Canada and manufactures for customers worldwide. More information at www.arclin.com.
About The Jordan Company
TJC, founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $15 billion and a 39-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Healthcare & Consumer; Industrials; Technology, Telecom & Utilities; and Transportation & Logistics. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has offices in Chicago and Stamford.
About Lone Star Funds
Lone Star, a global private equity firm founded by John Grayken, invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. Since the establishment of its first fund in 1995, Lone Star has organized 21 private equity funds with aggregate capital commitments totaling approximately $85 billion.
Raven | March 28, 2022
Raven Industries announced that it is expanding its facilities to support the organization's rapid growth as it develops cutting-edge customer solutions and accelerates the advancement of its industry-leading agriculture technology.
Raven recently opened a new engineering center in Scottsdale, Ariz., as part of this expansion. The Phoenix metropolitan area is a national hub for high-performance businesses and individuals. Raven benefits from strong ties to Arizona State University, one of the country's largest and most innovative universities, as the company continues to recruit top engineering talent. Raven team members will also have access to a nearby test farm for same-day testing, focusing on product development, data science, and artificial intelligence. This model enables more rapid and efficient agriculture technology iteration while putting the user experience first as demonstrated by the success of South Dakota's Raven Innovation Campus.
Along with the new Scottsdale location, Raven is planning a significant expansion of its Innovation Campus, located just minutes from its headquarters in Sioux Falls, South Dakota. The upgraded facilities will provide additional space and resources for real-time engineering testing, research, and development in artificial intelligence, autonomy, machine learning, and core technologies.
“Our integration with Raven is rapidly accelerating technology delivery to customers, It allows our Engineering teams to efficiently go from ‘code to cab’ to develop and deploy new technologies. These sites, combined with our existing activities, will reinforce our commitment to have engineers work closely with our customers.”
Parag Garg, Chief Digital Officer, CNH Industrial
Arizona and South Dakota investments will strengthen Raven's engineering talent base, advance Raven technology integration and advancements on Case IH and New Holland platforms, and support demand for innovative aftermarket solutions.
“These expansions are a direct reflection of our commitment to autonomous development,” noted John Preheim, Raven Vice President of Engineering. “We are dedicated to delivering autonomous solutions that help growers optimize their operations, and these centers of excellence will provide the space and resources to support this vision.”
Raven continues to expand its award-winning portfolio of solutions, most recently with the introduction of OMNiPOWERTM 3200, its next-generation autonomous power platform. The OMNiPOWERTM 3200 enables farmers to remotely operate the unit via tablet or in autonomous mode without needing a driver. OMNiDRIVETM has also been recognized as a top innovative product by agricultural and biological engineering leaders as a 2022 ASABE AE50 Award Winner.
As Raven leads the market toward autonomy through established, award-winning driverless platforms, the company views autonomy as a critical component of its mission: assisting farmers in assisting the world. Visit https://ravenprecision.com/autonomy to learn more about Raven's autonomous advancements.
Tolent | October 12, 2020
Tolent has been appointed by Sunderland City Council to build accessible and affordable housing – the first council houses to be built in Sunderland for almost 40 years. The accessible and affordable housing includes 17 bungalows, 16 of which will be specially adapted to provide homes for people with physical disabilities, and one for general needs at Cork Street in Hendon. The new homes are being built with the help of £765,000 of Homes England funding secured for the project by the City Council to help build new social housing in the city. The City Council will build a new £1.4m day centre to support people with physical disabilities across the city. The Day Centre and the first eight of the bungalows to be built as part of the scheme have an anticipated completion date of summer 2021. The council confirmed its plans to move into the rented housing sector late last year. The project is one element of a wider £59m programme for a range of affordable housing projects across Sunderland over the next five years.