DETROIT, May 16, 2011 /PRNewswire/ — Superior Capital Partners LLC, a Detroit-based private equity firm, announced today that it has acquired Rubex, Inc. as an add-on acquisition to its Ft. Worth, TX based specialty chemicals portfolio company, Edge Adhesives. The transaction represents the seventh acquisition from Superior’s 2008 inaugural fund and the third acquisition in 2011. Edge Adhesives acquired Rubex from Chemence Inc., a diversified chemicals company with operations in the United States and the United Kingdom.

Based in Columbus, Ohio, Rubex is a manufacturer of engineered butyl mastics, converted tapes and sealants that are used in electrical, automotive, construction, and industrial applications. The Rubex acquisition expands Edge’s end markets, manufacturing capacity and portfolio of high performance adhesives and sealants.

Edge Adhesives also recently named Dave Burger as its President and Chief Executive Officer. Dave is a 25-year veteran of the adhesives and sealants industry and a former executive for 3M Company’s industrial adhesives business unit. Dave is also the former Chairman of the Board of the Adhesives & Sealants Council. Dave noted, “I am extremely excited to lead Edge Adhesives and Rubex. The partnership between Edge and Rubex creates a more diverse and substantial player in the industry with complementary manufacturing locations in Ohio and Texas. The combined company possesses several unique formulations and adhesive technologies that offer performance and environmental qualities that are among the best in the industry.”

Scott Hauncher, Superior’s Managing Director, commented, “This is a highly-complementary add-on acquisition for Edge Adhesives. Rubex brings identified growth opportunities that can be pursued with Edge’s leadership, sales and product development support. The combined company will execute on these growth opportunities and seek to grow through additional acquisitions in the industry. Rubex was a non-core division of Chemence that we learned about through our industry contacts. Our experience in acquiring non-core assets enabled us to close the deal on a very compressed timeframe.”

As a special situations fund, Superior combines capital, transaction experience and operational improvement expertise with proven management teams who have the vision, capability and commitment to successfully improve and grow their businesses. Superior seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Generally, these companies will have annual revenue of $10 to $150 million, identifiable growth opportunities and the need for capital and resources to implement a growth and recovery plan.

Related websites:
www.superiorfund.com
www.edgeadhesives.com
www.rubex-us.com

SOURCE Superior Capital Partners LLC