Based in Newark, NJ, Craig is a premier supplier of UV-cured and water-based adhesives and coatings to the printing and graphic arts markets. The acquisition builds on Royal’s strong platform of leading adhesives, sealants and coatings and allows clients of both companies to benefit from an expanded range of customized and proprietary solutions. For Vertis, the sale provides additional opportunities to pay down debt and invest in the cross-media solutions that will drive its continued growth.
“We are excited to add Craig’s market-leading ultraviolet and water based adhesives and coatings products to our growing platform, and welcome Craig’s employees and clients to the Royal family,” said Ted Clark, CEO of Royal. “As a leading producer of high-performance adhesives, sealants and coatings, we look forward to working with the Craig team to advance our combined product portfolio and expand our presence in the packaging and graphic arts market.”
“Craig has a long history of innovation in the fast growing market for ultraviolet light cured adhesives and coatings and is providing great solutions and service to the packaging, printing and lamination markets,” John Televantos, a partner at Arsenal Capital, said. “The acquisition of Craig and merger with Royal represents an important milestone in our strategy to further build a leading adhesives, sealants and coatings business offering customized and proprietary solutions.”.
“Vertis is intensely focused on growing our cross-media solutions and on ensuring that each business within this strategy is well-positioned to gain share in its market,” said Gerald Sokol, Jr., Vertis president and CEO. “After careful consideration, we recognized that Craig clients and employees would realize substantial benefit as part of a larger organization that focuses on the adhesives and sealants industry. We have been very impressed with the commitment and expertise of the Royal team and are confident that Craig will be well positioned for growth under this new ownership.”.
The transaction includes a long-term supply agreement between Royal and Vertis, which allows Vertis continued access to Craig’s specialized products. Vertis will continue to deliver the innovative solutions and high-quality services its clients expect without disruption.