November 10, 2009
Ellipse Capital Announces Majority Equity Investment in Ward Adhesives, Inc.

Ellipse Capital, a private investment firm focused on the distribution sector, announced that it has completed the acquisition of Ward Adhesives, Inc. Terms of the transaction were not disclosed.

Ward Adhesives, Inc. (www.ward-adhesives.com) is a leading national distributor of specialty adhesives for the packaging, product assembly and graphic arts markets. Headquartered in Pewaukee, Wisconsin, the company provides its customers with products, technologies and services to address a broad range of adhesive applications.

"Ward's reputation for providing exceptional value-added service complemented by its broad product offering and strong technical sales force makes Ward an attractive investment opportunity," said Peter Gotsch, Managing Partner at Ellipse Capital. “The management team’s extensive industry experience combined with Ellipse Capital’s knowledge of the distribution sector should position Ward for continued success. We are very excited to partner with Doug Moore, Doug Deitz and the rest of their team to support them through the next phase of their growth.”

“Ellipse Capital brings a combination of financial, operational and strategic insight to our Company,” said Doug Moore, CEO of Ward. “I am very excited about what the future holds for our business."

Ellipse Capital is a private investment firm focused exclusively on value-added distribution businesses across a broad range of end markets. Ellipse sources and invests in growth oriented, lower middle market distribution businesses with enterprise values between $10 - $100 million. For more information, visit www.ellipsecapital.com.