Private equity companySorenson and Yukon Partners have acquired a stake in Axiom Materials, a manufacturer of film adhesives and primers. Axiom serves the industrial, automotive, aerospace, mechanical device and electronic sectors. The company reports that the additional capital will help Axiom to realize its strategic goals faster, allowing the firm to reach its long term potential. Financial details have not been disclosed, but Sorenson generally invests as much as $40 million in such transactions.
Market news website Mergers and Acquisitions notes that the coatings industry is attracting interest from investors and buyers. Recent noteworthy transactions include the acquisition of GeeraetsAutolak by Axalta Coating Systems Ltd., Innovative Chemical Products’ purchase of Fomo Products Inc., and the acquisition of MetoKote Corp by PPG is underway.