September 2, 2026 – Blue River Financial Group has advised APPLIED Adhesives, North America’s custom adhesives solutions provider and portfolio company of Bertram Capital, on the recent acquisition of Industrial Sales and Distribution, Inc. The acquisition expands APPLIED’s adhesives and silicones portfolio, customer base and East Coast presence.
Since 1971, APPLIED Adhesives has been North America’s premier custom adhesives solutions provider, offering an extensive portfolio of adhesives, dispensing equipment, parts, and service across more than 60 specialized markets, including packaging, paper converting, product assembly, and automotive. With over 300 team members across the United States, Canada, and Mexico, five technical service and innovation centers, and 25 warehouses strategically located across North America, APPLIED Adhesives delivers a consultative, cost-in-use approach that helps customers improve efficiency and reduce costs.
Industrial Sales and Distribution Inc. (ISD) is a Westerly, RI-based distributor of adhesives and silicones that has served manufacturing customers for more than 35 years. ISD, formerly R.P. Morrison Company, specializes in solutions for aerospace, product assembly and pad printing markets.
“We are excited to welcome ISD customers to the APPLIED team,” said John Feriancek, President and CEO of APPLIED Adhesives. “For more than three decades, ISD has earned the trust of its customers through exceptional service, technical knowledge, and strong supplier partnerships.”
Bertram Capital is a private equity firm targeting investments in lower middle market companies. Since its inception in 2006, the firm has raised over $3B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High 5sm and Bertram Labs, to empower its portfolio companies to unlock their full business potential. The Bertram High 5sm is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complimentary business acquisition, sales and marketing improvements and leveraging technology and IP.
Dan Sundby, Managing Director at Blue River, said, “ISD gives APPLIED strong customer base additions that trust ISD’s expertise in providing silicone and adhesives product solutions in the New England area and the Carolinas. Applied brings ISD capabilities to expand their reach nationally. We look forward to seeing how these two companies can grow together!”
About Blue River
Blue River Financial Group is a middle market merger and acquisition advisory firm. We assist corporations, private equity groups and individuals in the sale and acquisition of businesses and have completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations, and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.
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