Arsenal Capital Partners, a private equity firm that invests in middle-market specialty industrials and healthcare companies, announced that its coatings platform, Seal For Life Industries, has acquired the Canusa-CPS and Dhatec businesses from Shawcor.
Canusa offers an innovative and differentiated platform of technically complex and highly engineered solutions through a comprehensive portfolio of mission-critical corrosion protection and adhesive solutions.
Its brands include:
- WrapidBond visco-elastic adhesives
- Scar-Guard and WrapidTape mechanical protection systems
- HBE liquid epoxy coatings
- WrapidShrink and Factory Grade heat shrink sleeves
- Canusa-Seal insulated pipe systems
“Canusa has an excellent market reputation for providing its customers with the highest level of performance and quality to meet stringent performance and regulatory requirements,” said Sal Gagliardo, an operating partner with Arsenal. “We look forward to supporting the Canusa team and building the business organically and with strategic acquisitions that will further expand our position in the broader protective coatings and sealing solutions space for infrastructure applications.”
Canusa enhances Seal For Life’s product coating and sealing solutions capabilities and expands the platform into broader global infrastructure and industrial markets and regions. Seal For Life’s current technology portfolio provides maintenance and repair solutions that prolong the life and durability of critical applications — such as water, natural gas, and oil pipelines, tanks and terminals, district heating, power generation, and petrochemical infrastructure.
Canusa has operations in the U.S., Canada, the Netherlands, and the United Arab Emirates, with more than 250 employees.
“We are excited to partner with Seal For Life and Arsenal given their deep expertise in the infrastructure coating and sealants sector,” said Stuart Wilson, ViP of Canusa. “Our combined and robust platform will enhance our abilities to focus intensely on our global customers, and to accelerate growth in key markets such as renewable energy, industrial infrastructure, and commercial buildings.”
J.P. Morgan Securities LLC acted as financial advisor and Stikeman as legal advisor to Shawcor. Jones Day and Fasken acted as legal advisors to Seal For Life.