Recent News.

Goldner Hawn Recapitalizes Guy Chemical and Nuco to Form Matrix Adhesives Group

Minneapolis, MN – Goldner Hawn, alongside industry veteran Dan Horner, today announced the launch of Matrix Adhesives Group. Matrix was formed through the contemporaneous recapitalizations of Guy Chemical and Nuco. Prior owners and the management teams at Guy Chemical and Nuco also hold an ownership stake in Matrix. With manufacturing locations in Guelph, ON, Canada, and Somerset, PA, USA, Matrix is positioned as a leading North American adhesive and sealant manufacturing and packaging partner, serving blue-chip customers across consumer and industrial markets. Matrix offers its customers unique formulation, compounding, filling, and packaging capabilities through state-of-the-art facilities, automated production lines and mixing tanks.

Chad Cornell, Partner at Goldner Hawn, commented, “Goldner Hawn is excited about the combined capabilities of Guy Chemical and Nuco. We have a great team in place at Matrix, Guy Chemical and Nuco and are excited about the natural synergies for the platform. We will continue to pursue strategic acquisitions for the platform to expand capabilities and optionality for our core customer base.”

Dan Horner, Matrix CEO, added, “This new platform brings decades of domain and technical expertise in the adhesives and sealants market, and we are excited to support their organic and acquisition growth initiatives to continue to build this leading North American adhesive and sealant manufacturing and packaging platform. Guy Chemical and Nuco have built very impressive, customer-focused businesses over the past 25+ years, and we are pleased to have them join forces with Matrix Adhesives Group. Guy Chemical and Nuco share a philosophy of providing exceptional service, value, and superior adhesive solutions for our customers.”

Goldner Hawn is pleased to receive the support of Churchill’s Private Equity team through their equity co-investment in Matrix.

About Matrix Adhesives Group
Formed in conjunction with the recapitalizations of Guy Chemical and Nuco, Matrix Adhesives Group is a leading adhesive and sealant solutions development partner specializing in formulating, filling, blending, and contract packaging for consumer and industrial markets. For more information, visit Matrix Adhesive Group’s website at

About Guy Chemical
Founded in 1995, Guy Chemical specializes in developing and formulating high-quality silicone sealants and greases, as well as two-part epoxy adhesives. Guy Chemical is also a dedicated contract packager, offering filling, blister packing, power-can filling, and other types of secondary packaging for the consumer and industrial markets. Guy Chemical is a value-added partner for a diverse group of blue-chip customers representing highly reputable brands across consumer and industrial markets. Guy Chemical sells its products primarily through OEM and distributor channels. For more information, visit Guy Chemical’s website at

About Nuco
Founded in 1988, Nuco has grown to become a global leader in manufacturing of sealants, foams, firestops and adhesives, serving long-standing, blue-chip customers across Canada and the United States. Nuco sells through OEM and distributor channels. For more information, visit Nuco’s website at

About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $37 billion of committed capital, Churchill provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and its origination strategy, execution and investment are driven by more than 100 professionals in New York, Charlotte and Chicago. More information can be found at

About Goldner Hawn
Goldner Hawn was founded in 1989 in Minneapolis, Minnesota and has been a source of private capital to leading lower middle market companies for over 30 years. With an investment philosophy centered on the principle of partnership, Goldner Hawn seeks to back management teams of businesses with $5 million to $20 million of EBITDA in industries including specialty manufacturing, value-added distribution, consumer products and services, and outsourced business services. Goldner Hawn has made over 100 platform and add-on investments in companies with total transaction values exceeding $4 billion. For more information, call 612-338-5912 or visit