Arsenal Capital Partners Announces Acquisition of Seal For Life Industries

NEW YORK - Arsenal Capital Partners (“Arsenal”), a leading private equity firm that invests in middle-market specialty industrials and healthcare companies, announced today the acquisition of Seal For Life Industries, LLC (“Seal For Life”) from Berry Global Group, Inc. (NYSE: BERY; “Berry”) for $328 million.

Seal For Life offers an unrivaled portfolio of corrosion protection and sealing solutions with the highest technical specifications in the industry. The company has operations in the Netherlands, Belgium, India, Mexico, and the United States, with over 380 employees. Seal For Life’s complementary brands, including Anodeflex™, Stopaq®, Polyken®, Covalence®, and Powercrete®, present a differentiated value proposition to customers with a focus on preventing and combating corrosion, water ingress, and insulation issues, with superior lifetime economics. The company has annual sales of approximately $120 million.

Seal For Life will serve as Arsenal’s platform in the coating solutions sector focusing on the global infrastructure and industrial markets. The platform’s current and future technology portfolio provides maintenance and repair solutions that prolong the life and durability of critical applications, such as water and oil pipelines, tanks and terminals, power generation and petrochemical infrastructure.

Dirk Totte, General Manager of Seal For Life, said, “We are excited to partner with Arsenal given its deep expertise in the coating and sealants sector. Our strong platform combined with strategic investments and acquisitions will accelerate growth in current and new end markets such as renewable energy, infrastructure and commercial buildings.”

Sal Gagliardo, an Operating Partner of Arsenal, said, “Seal For Life has an excellent market reputation for providing its customers with the highest level of performance and quality to meet stringent regulatory requirements. The company continues to innovate protective and anti-corrosion solutions that are solving the market needs in the oil and water pipeline industry and in emerging applications for other core infrastructure markets. We expect to build on the company’s leading market brands and accelerate the trajectory of new technologies and solutions.”

“Seal For Life will benefit from Arsenal’s resources and expertise in the coatings and materials sector, where we have strong relevance in the company’s markets and technologies. We look forward to supporting the Seal For Life team and building the business organically and with strategic acquisitions that will further expand its position in the broader coatings protection industry,” added Roy Seroussi, an Investment Partner of Arsenal.

J.P. Morgan Securities LLC acted as financial advisor to Berry. William Blair & Company acted as financial advisor and Jones Day acted as legal advisor to Arsenal.

About Seal For Life

Seal For Life provides corrosion prevention, waterproofing, and insulation products. The company offers plastic meshes to protect pipes and pipelines from rocks when backfilled; cathodic protection products; visco-elastic solutions to protect assets from corrosion and water ingress; cold-applied and fused tape products; single wrap pipeline coating systems; coatings for metal pipes; and liquid coating products. It offers products for various markets, such as marine, splash zone and underwater installation, mobile pipeline coating, onshore oil and gas pipelines, offshore, insulation, casing filler, energy, flooring, refinery, cathodic protection, cables and wires, and waste water. Visit www.sealforlife.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 40 platform investments, and achieved 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 million to $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. Visit www.arsenalcapital.com.