Adhesives solutions distributor and manufacturer Applied Products, which does business as APPLIED Adhesives, was acquired by private equity firm Bertram Capital from Arsenal Capital Partners.

Terms of the transaction were not disclosed.

Based in Minnetonka, MN, APPLIED Adhesives supplies adhesive solutions for the packaging, product assembly, paper converting and automotive industries. It distributes hot melt, water-based and structural adhesives, along with dispensing equipment. As a supply chain partner to adhesive manufacturers and formulators, the company offers broad reach, high service and technical expertise. Its private label portfolio includes brands like ASURE, Adhezion, InfinityBond, Pacific Adhesives, AST Equipment and KEYSTONE spare parts.

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Arsenal Capital Partners, a private equity firm focused on industrial growth and healthcare businesses, made its initial investment in APPLIED Adhesives in 2021. Since then, Arsenal said APPLIED Adhesives has completed 17 acquisitions, expanding its geographic reach, product offerings and technical capabilities while driving organic growth.

“Our partnership with Arsenal has been instrumental to our success over the past four years,” APPLIED Adhesives President and CEO John Feriancek said in an April 15 news release. “Arsenal’s strategic guidance and deep expertise in the adhesives sector enabled us to expand our platform and capabilities. We are excited to partner with Bertram as we enter our next phase of growth and continue to expand our reach and impact in the marketplace.”

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APPLIED Adhesives marks Bertram’s fourth investment in an industrial distribution platform and the third platform investment made through its Fund V.

Feriancek added in a separate news release: “Bertram’s experience within the industrial distribution sector and the shared vision in the value creation strategy differentiated Bertram in the sale process. We look forward to leveraging Bertram’s operating capabilities, including the Bertram Labs team, to continue to accelerate growth.”