Athlone's Zenith Adhesive Components sold to US company

In a week when transatlantic trade relations have been dominating headlines globally, Athlone company Zenith Adhesive Components has announced that it's been acquired by an American firm.

Based in the Blyry Business Park, Zenith Adhesive Components was founded in 2012, and is a contract manufacturer of adhesive and specialist material sub-components. It currently employs 26 staff.

Zenith's founder, Pat O'Neill, said he was delighted to announce yesterday (Thursday) that it had been acquired by a US company called Innovize.

"Many will find it interesting that this has just happened with the week that's in it – but it just goes to show that Ireland is still a very attractive place to be," he commented.

Innovize, a 65-year-old US company founded in St Paul, Minnesota, is a leading contract medical manufacturer of adhesive and film-based solutions serving diabetes, cardiac, neurological, surgical and diagnostic sectors.

Innovize joined Excel Scientific’s platform in 2022. Excel Scientific, based in California, is a global supplier of microplate sealing films and foils used in life science research, university and testing laboratories, as well as biotech, pharmaceutical and diagnostic segments.

The announcement of the transaction stated that Zenith's technically sophisticated solutions for medical, life science and high technology sectors would "enhance Innovize and Excel's capabilities to further meet the needs of our global customers."

Pat O'Neill said that he and Jonathan Whately, the original owners of Zenith Adhesive Components, would be continuing in the new business as minority shareholders, and were committed to a long-term involvement with the expanded joint manufacturing businesses on both sides of the Atlantic.

He anticipates that the company's workforce in Athlone is likely to expand in the coming years.

"We are starting to grow already, with the two new hires coming on board shortly. We expect many more in the coming 18 months," Mr O'Neill stated.

Commenting on the acquisition of Zenith Adhesive Components, John LeRosen, Partner, Vance Street Capital and Chairman of the Board of Excel Scientific said: "Vance Street Capital is thrilled to bring Zenith, Innovize and Excel Scientific together. Each brand brings proprietary capabilities which together create something truly unique."

Julie Cameron, CEO of Innovize and Excel Scientific agreed. "We found the perfect partner, aligned with our strategy for customer focus, capabilities, and capacity.

"Pat O'Neill, Jonathan Whately, and their team possess critical expertise in an ideal location. Together we deliver sought after solutions with regional readiness across North America and Europe."