Bertram Capital Acquires APPLIED Adhesives from Arsenal Capital Partners

Arsenal Acquires Applied Adhesives from Goldner Hawn

March 16, 2021

Manufacturing

Arsenal Capital Partners has acquired Applied Products, Inc. ("Applied Adhesives") from Goldner Hawn. Terms were not disclosed; Arsenal said it will support Applied Adhesives' organic growth and add-on acquisition strategy to build the company as a leading value‑added distributor and manufacturer of adhesives and thermal product solutions in North America.

APPLIED Adhesives Acquires Interlock Adhesives

January 29, 2026

Industrial Services

APPLIED Adhesives, a portfolio company of Bertram Capital, has acquired Interlock Adhesives, a UK-based adhesive technology and solutions provider headquartered in Scunthorpe. The deal establishes APPLIED’s presence in the United Kingdom and pairs APPLIED’s broader technical capabilities with Interlock’s local market knowledge to expand offerings for packaging, labeling and bookbinding customers.

APPLIED Adhesives Acquires Adhesive Systems Technology (AST)

June 28, 2021

Manufacturing

APPLIED Adhesives has acquired Adhesive Systems Technology Corp (AST), a designer and manufacturer of metering, mixing and dispensing equipment focused on the industrial and construction markets. The deal expands APPLIED’s adhesive dispensing capabilities and is the company's second acquisition under the ownership of Arsenal Capital Partners.

APPLIED Adhesives Acquires Engineered Adhesive Systems

July 14, 2022

Industrial Services

APPLIED Adhesives, a North American custom adhesive solutions provider headquartered in Minnetonka, Minnesota, has completed the acquisition of Engineered Adhesive Systems, a Grandville, Michigan-based supplier of adhesives and adhesive dispensing equipment. The deal expands APPLIED's product and equipment capabilities and strengthens its regional service and technical support for industrial customers.

APPLIED Adhesives Acquires American Chemical

October 12, 2021

Manufacturing

APPLIED Adhesives, a custom adhesive solutions provider based in Minnetonka, Minnesota, has acquired American Chemical, a regional supplier of adhesives and sealants located in Minneapolis, Minnesota. The acquisition strengthens APPLIED Adhesives' technical capabilities, in-house lab services and regional customer support; Krahn Capital Group advised American Chemical and the seller was former owner Dennis Werneke.

APPLIED Adhesives Acquires Alliance Adhesives

May 25, 2022

Manufacturing

APPLIED Adhesives, a Minnetonka, Minnesota-based custom adhesive solutions provider, has completed its acquisition of Alliance Adhesives, a regional manufacturer and distributor of industrial adhesives and dispensing equipment in Oldsmar, Florida. The deal expands APPLIED's geographic reach and product/service capabilities while integrating Alliance's regional customer relationships and technical expertise into APPLIED's platform.