Longacre Group Acquires Power Adhesives
LONDON – 11 August, 2022 – Longacre Group has acquired a majority shareholding in Power Adhesives Limited ("Power" or the “Company”), a market leading manufacturer of hot melt adhesives and applicators.
Power is based in Basildon, Essex, where for the last 40 years it has been manufacturing and developing world-leading hot melt adhesives and applicators that service a vast array of industries globally.
Joining Power as CEO is Brendan Colgan. Brendan is an entrepreneurial manager with extensive experience in a number of global industrial businesses.
Stephen Sweeney, lead shareholder of Power said: “We are very proud of Power’s success to date. Over the past 40 years, we have grown Power to be the world leading business it is today. We see this next step as a new and exciting chapter in Power’s history. The involvement of Brendan and Longacre Group will bring new energy to the business, building on its strong foundations to drive growth and deliver its potential in the years ahead. The opportunities for Power and its employees are tremendous."
Brendan Colgan, CEO of Power Adhesives said: “I am hugely motivated to be leading Power into the future as the Company continues to go from strength-to-strength. Power has achieved over ten years of continuous growth and with Longacre Group's financial backing and the enthusiasm of Power’s employee base I see huge potential for the Company.”
Elliott Nicholson, Managing Director at Longacre Group said: “We are delighted to be part of Power’s future success. Power is a world-class business with many avenues for growth and we believe Brendan will be a great addition, bringing with him strong industry experience. There is significant opportunity ahead for Power and we look forward to working with the team to build upon their success and continue to enhance the Company’s leading position in the market.”
For more information, please visit www.poweradhesives.com
Longacre Group was advised by Eversheds Sutherland, Drystone Strategy and Interpath Advisory.
Power Adhesives Limited was advised by Moore Kingston Smith and Memery Crystal.
For further information please contact:
Elliott Nicholson +44 (0)203 675 7732 firstname.lastname@example.org