PRO-SET Formulated Resin Systems Acquires Universal Chemicals and Coatings, Inc.

Acquisition marks entry into formulated coatings and laminating adhesives for advanced metallic composite structures

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--PRO-SET Formulated Resin Systems, LLC (PFRS), an Iron Path Capital holding company, today announced the acquisition of Universal Chemicals and Coatings, Inc. (UNICHEM), a leading manufacturer of high-performance custom industrial coatings, laminating adhesives and container linings. This marks the third acquisition for PFRS, following its acquisition of Gougeon Brothers, Inc. in May 2025 and Wessex Resins and Adhesives in December 2025.

This strategic acquisition furthers PFRS’ strategy to build a global formulated resin systems business focused on highly specified formulated products for fabricating, bonding, sealing, coating and repair of advanced non-metallic and metallic composite structures for marine, aerospace, defense, electronics and industrial applications. UNICHEM also broadens PFRS’ formulating capabilities beyond its current epoxy-based infusion, lamination and structural adhesives systems.

“We are excited to welcome Universal Chemicals and Coatings to our growing platform,” said Ted Clark, Executive Chairman of PRO-SET Formulated Resin Systems, LLC and Partner at Iron Path Capital. “This acquisition is a strategic move to expand into formulated protective coatings and laminating adhesives for mixed metal composite and other dissimilar substrates, by leveraging UNICHEM’s bespoke, technically driven, and solution oriented product development model into a broader set of markets and customers that PFRS serves globally.”

UNICHEM is a second-generation family-owned business that has been one of the market leading players in the industrial drum and pail markets, and coil applied industrial coatings and adhesives since 1967. The company’s interdisciplinary problem-solving approach is built on a robust foundation of science and research, with expertise in process technology, resin science, value added engineering and industrial market insights. UNICHEM’s expertise lies in its technical talent and ability to formulate products that meet customer needs to deliver tailored solutions.

“We’re excited for this new chapter as we partner with PRO-SET Formulated Resin Systems, which allows us to honor our history while accelerating our future growth,” said Fred Chin, President and CEO of Universal Chemicals and Coatings. “We are proud of the custom solutions we deliver to our customers, and we look forward to continuing that work as part of PRO-SET’s expansion.”

For more information on PRO-SET Formulated Resin Systems, visit https://www.linkedin.com/company/pro-set-formulated-resin-systems-llc/.

About PRO-SET Formulated Resin Systems, LLC

PRO-SET Formulated Resin Systems, LLC (“PFRS”), is a global platform focused on delivering high-performance formulated resin and polymer solutions for demanding applications across industrial, marine, energy, transportation, aerospace, defense, and other advanced manufacturing markets. Our core expertise is in developing infusion, laminating, tooling, coatings and adhesives resins systems for structural composite and other advanced material applications engineered to solve complex customer challenges with precision, consistency, and reliability. As we expand globally, our mission is simple: create value by helping customers build better, stronger, and more sustainable products. PFRS was formed after the acquisition of Gougeon Brothers, Inc. and Wessex Resins and Adhesives Ltd.

About Iron Path Capital

Iron Path Capital is an operationally focused private equity firm making lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships with the goal of achieving significant scale. Iron Path Capital focuses on growing companies with stable cash flows, superior management teams, defensible, scalable business models and multiple vectors for growth, both organic and through consolidation. Learn more at ironpathcapital.com.