Private equity firm Iron Path invests in Gougeon Brothers Inc.
This marks the first investment in Iron Path Capital’s advanced materials platform, accelerating growth of Gougeon’s epoxy resin systems while preserving the company’s culture, technical leadership and quality.
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(Charlottesville, Va., U.S.), a private equity firm focused on healthcare and specialty industrials, has announced a growth partnership with (Bay City, Mich., U.S.) an epoxy manufacturer in the composites and marine end markets.
“We are partnering with the Gougeon management team to develop and grow their West System, Pro-Set and Entropy Resins epoxy resin systems for making and repairing composite structures,” says Ted Clark, partner at Iron Path Capital. “Gougeon has a long and storied history as a pioneer and innovator in advanced composite epoxy resin systems for both repair and use in OEM composite parts manufacturing. We will continue to build the business through organic and inorganic opportunities in the fast-growing composite materials market.”
Family-owned since 1969, Gougeon formulates and manufactures epoxy systems for various applications in the marine, recreational, automotive, aerospace and industrial composites markets. The company is committed to customer service and technical support in ensuring customers’ effective use of its products. Its in-house chemists develop tailored solutions for each application, ensuring quality and performance through their high strength and optimal handling characteristics.
The company’s history is rooted in boatbuilding with the Gougeon brothers developing the use of epoxy resin systems in boat construction. In addition to formulating and manufacturing products, Gougeon is known for its instructional magazine and online forum, , its book, “,” and seminars and training sessions including the “” seminar for boat repair.
Gougeon CEO Alan Gurski notes that the company chose Iron Path as “they share our entrepreneurial spirit, and our commitment to each other, our community, our customers and to manufacturing the finest products for our markets.”
Ted Clark will serve as executive chairman of Gougeon as part of the new advanced materials platform. Clark is an experienced operator in formulated coatings, adhesives and sealants, as well as in composites. He previously led Royal Adhesives & Sealants as president and CEO from 2003-2017, which was acquired by H.B. Fuller. Post-acquisition, Clark served as senior VP, Royal Adhesives, then as executive VP and COO of H.B. Fuller before joining Iron Path Capital as a partner in 2022. Earlier in his career, Clark also served as president and CEO of PRC-DeSoto International, a producer of coatings and sealants for aircraft.
This marks the fifth platform in Iron Path’s main strategy. From day one, Iron Path Capital says it works hand-in-hand with management teams to add value through its blend of Wall Street capability and Main Street authenticity.