TruArc Acquires Matrix Adhesives in Major Specialty Chemicals Play

NEW YORK, NY – March 30, 2026 – Private equity firm TruArc Partners announced today its acquisition of Matrix Adhesives Group, a prominent North American manufacturer of sealants and adhesives, from its previous owner, Goldner Hawn. While the financial terms of the deal were not disclosed, the move marks a significant strategic investment in the burgeoning specialty chemicals sector and positions Matrix for an accelerated phase of growth under new ownership.

The acquisition transfers a rapidly expanding platform to TruArc, a firm known for its focus on middle-market specialty manufacturing and its “buy and build” growth strategies. Matrix, headquartered in Columbus, Ohio, operates seven manufacturing facilities across the United States and Canada, providing a wide array of branded and private-label adhesive solutions for the construction, industrial, and commercial markets.

A Strategic Play in a Booming Market

TruArc's investment in Matrix Adhesives Group is a calculated move into a resilient and expanding industry. The North American adhesives and sealants market, valued at nearly $14.5 billion in 2023, is projected to grow at a compound annual rate of over 5.5%, driven by a resurgence in construction, advancements in manufacturing, and a strong push towards sustainable materials. This market, though led by giants like 3M and Henkel, remains fragmented at the mid-to-lower end, presenting a prime opportunity for consolidation—a strategy at the core of TruArc's playbook.

TruArc has a documented history of acquiring platform companies in specialized sectors and fueling their expansion through both organic investment and strategic add-on acquisitions. This approach is evident in its portfolio with companies like Meyer Lab, a cleaning chemical manufacturer, and New Directions Aromatics, a supplier of natural ingredients. The acquisition of Matrix aligns perfectly with this model.

“We have been highly impressed with what Matrix has become over the past five years,” said John Pless, Co-Managing Partner at TruArc Partners, in a statement. “The Company’s branded portfolio combined with its formulating and packaging capabilities provides a strong foundation for growth. We are excited to partner with the Matrix team to support the Company’s strategic expansion of its product offerings, end markets, and customers.”

Building a Platform: Matrix's Rapid Ascent

Matrix Adhesives Group is itself a product of a successful consolidation strategy. Formed by Goldner Hawn in early 2022 through the combination of Guy Chemical and Nuco, the company was established as a platform to build a significant presence in the adhesives market. Under Goldner Hawn’s five-year stewardship, Matrix grew aggressively through a series of strategic acquisitions.

Key acquisitions included Lohnpack Contract Filling, which expanded its packaging capabilities, and Adaseal International, which added RTV silicone manufacturing. Perhaps most notably, the 2025 acquisition of Roman Products, North America's largest producer of wallpaper adhesives and primers, significantly broadened the company's product portfolio and market share. This rapid expansion transformed Matrix from a collection of smaller entities into a cohesive and powerful group with a diversified footprint and extensive technical capabilities, making it an attractive target for a growth-focused investor like TruArc.

The Technology of Sticking Together

This acquisition also casts a spotlight on the often-underestimated but critical role of advanced adhesives and sealants in the modern economy. Far from simple glue, these are highly engineered materials essential to multiple industries. Matrix’s deep formulation expertise is central to innovations driving efficiency, durability, and sustainability.

In the automotive industry, for example, advanced adhesives are key to lightweighting vehicles by bonding composite materials and replacing heavier metal fasteners, which contributes to improved fuel efficiency. In construction, high-performance sealants enhance building envelope efficiency, reduce energy consumption, and increase the longevity of structures. The growing demand for eco-friendly products has also spurred innovation in bio-based and low-VOC (volatile organic compound) formulations, an area where specialized chemical expertise is paramount.

Matrix’s ability to deliver branded, proprietary, and private-label solutions across these diverse end markets positions it to capitalize on these powerful secular trends. TruArc’s investment is expected to inject capital and strategic support to further enhance research and development, helping Matrix stay at the forefront of material science innovation.

New Leadership for the Next Growth Phase

To guide Matrix through this next chapter, TruArc is implementing a leadership structure that combines continuity with new strategic oversight. Dennis (“DJ”) Johnson, who has steered the company through its recent growth, will remain as CEO, ensuring a stable operational transition.

Joining the team is Rich Rowe, who will serve as the Non-Executive Chairman of the Board of Directors. Rowe brings a wealth of high-level industry experience, having formerly served as President & CEO of Arkema North America, a major global player in specialty chemicals. His appointment signals TruArc’s intent to provide robust strategic guidance and leverage deep industry connections to unlock new opportunities for Matrix. This combination of proven operational leadership and experienced board-level direction is a classic private equity strategy for maximizing the potential of a new portfolio company.

Reflecting on the transition, CEO DJ Johnson expressed optimism for the future. “We’re proud of what we built with Goldner Hawn and are energized by what lies ahead,” he stated. “With TruArc, we believe we have a strong partner that can support our continued growth, expand our capabilities, drive innovation, and help us pursue strategic acquisitions to better serve our customers.” This statement underscores the expectation that the acquisition is not an endpoint but rather the starting line for the next leg of Matrix’s expansionary journey.