We advised TruArc Partners and Matrix Adhesives Group on the transaction

Davis Polk advised TruArc Partners, LP and its portfolio company, Matrix Adhesives Group, on Matrix’s acquisition of IPS Adhesives from the parent company of IPS Corporation. Financial terms of the transaction were not disclosed.

Davis Polk previously advised TruArc Partners in connection with its acquisition of Matrix Adhesives Group, which closed in March 2026.

Matrix Adhesives Group is an adhesive and sealant solutions development partner. The company specializes in formulating, filling, blending and contract packaging for consumer and industrial markets.

IPS Adhesives is a provider of adhesives serving the surfacing, structural and assembly industries. With a combined 65 years of expertise in research and development, its products are recognized by original equipment manufacturers and fabricators globally for their quality, strength and reliability.

TruArc Partners is a private equity firm focused on middle-market investments. The firm focuses on companies in attractive sub-sectors across specialty manufacturing and business services.

The Davis Polk corporate team included partners Evan Rosen and associate Rahul Srivastava. The intellectual property and commercial transactions team included partner David R. Bauer and associate Lachlan J. Forrester. The sponsor finance team included partner Robert F. Smith and counsel Christopher D. Milla. The executive compensation team included partner Adam Kaminsky and counsel Christina Rose Andersen. Partner Ethan R. Goldman provided tax advice. Counsel Michael Comstock provided environmental advice. Members of the Davis Polk team are based in the New York and Washington DC offices

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