Power Adhesives welcomes new CEO and investment from Longacre Group
Power Adhesives is pleased and excited to announce that Longacre Group has acquired a majority shareholding in the business.
The manufacturer, which has a long history in the design, development and production of hot melt glue guns and shaped hot melt adhesives, also welcomes Brendan Colgan in his new role as CEO.
Brendan is an entrepreneurial manager with extensive experience in a number of global industrial businesses.
Brendan says; “Power is a high-quality business with talented and enthusiastic people and great potential for continued growth. I am extremely excited to be joining Power and to be involved in this next phase of the company’s growth. I look forward to working with all the various stakeholders in driving Power forward.”
Brendan’s experience, coupled with the support and investment from Longacre Group, will allow Power Adhesives to continue producing quality hot melt products and delivering great customer service, whilst simultaneously positioning the business for further growth and innovation.
Steve Sweeney will continue to be involved with Power Adhesives as a Director, saying: “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.”
Power Adhesives manufactures the largest range of industrial glue guns and high performance shaped hot melt adhesives at its Basildon plant in the UK. Its products are sold through a network of specialist distributors around the world under the tec and tecbond brand names.
With almost 50 years’ industry experience, Power Adhesives is able to offer expert help on all aspects of commercial gluing operations using hot melt adhesives.
Its new majority shareholder, Longacre Group, focuses on the sustainable long-term development of B2B companies. A UK headquartered group of highly specialised, technical products and services companies, Longacre is focused on attractive and growing B2B end markets in core sectors of Technical Manufacturing, Business Services, Speciality Chemicals, and Healthcare Products and Services.
