WESTWOOD, Mass.--(BUSINESS WIRE)--Chase Corporation (NYSE MKT: CCF) announced that it has acquired Resin Designs, LLC (“Resin Designs”), an advanced adhesives and sealants manufacturer, with locations in Woburn, MA and Newark, CA. In the most recently completed calendar year, Resin Designs had revenue in excess of $11,000,000, with results expected to be accretive to Chase Corporation’s earnings. The business was acquired for a purchase price of $30,435,000, pending any final working capital adjustment and excluding acquisition-related costs. As part of this transaction, Chase is acquiring all working capital and fixed assets of the business, as well as entering into multi-year leases at both locations. The purchase was funded entirely with available cash on hand.
Adam P. Chase, President and Chief Executive Officer, commented,
“Resin Designs is a great strategic acquisition for Chase Corporation. It broadens our adhesives and sealants product offering and manufacturing capabilities, and expands our market reach into logical adjacencies. We feel positive about the cultural fit between the organizations and synergy potential through leveraging our geographic proximity and Chase’s nurturing approach to complementary businesses with growth potential.”
Tim Desmond, Resin Designs’ Managing Partner, commented,
“Our organization is excited to become part of the Chase team. We look forward to the next chapter of Resin Designs' evolution, complemented by Chase's global market reach ideally positioned to drive growth.”
Resin Designs is a formulator of customized adhesive and sealant systems used in high-reliability electronic applications. They manufacture quality products for applications such as semiconductor packaging and devices, EMI shielding, enclosures, smart cards and hybrid microelectronics assemblies.
Chase Corporation, founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.
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