PRO-SET Formulated Resin Systems, LLC (PFRS), an Iron Path Capital holding company, announced the acquisition of Universal Chemicals and Coatings, Inc. (UNICHEM), a leading manufacturer of high-performance custom industrial coatings, laminating adhesives and container linings.

This marks the third acquisition for PFRS, following its acquisition of Gougeon Brothers, Inc. in May 2025 and Wessex Resins and Adhesives in December 2025.

This strategic acquisition furthers PFRS’ strategy to build a global formulated resin systems business focused on highly specified formulated products for fabricating, bonding, sealing, coating and repair of advanced non-metallic and metallic composite structures for marine, aerospace, defense, electronics and industrial applications.

UNICHEM also broadens PFRS’ formulating capabilities beyond its current epoxy-based infusion, lamination and structural adhesives systems.

“We are excited to welcome Universal Chemicals and Coatings to our growing platform,” says Ted Clark, executive chairman of PRO-SET Formulated Resin Systems, LLC and partner at Iron Path Capital. “This acquisition is a strategic move to expand into formulated protective coatings and laminating adhesives for mixed metal composite and other dissimilar substrates, by leveraging UNICHEM’s bespoke, technically driven, and solution-oriented product development model into a broader set of markets and customers that PFRS serves globally.”

UNICHEM is a second-generation family-owned business that has been one of the leading players in the industrial drum and pail markets, and coil-applied industrial coatings and adhesives since 1967.

“We’re excited for this new chapter as we partner with PRO-SET Formulated Resin Systems, which allows us to honor our history while accelerating our future growth,” says Fred Chin, president and CEO of Universal Chemicals and Coatings. “We are proud of the custom solutions we deliver to our customers, and we look forward to continuing that work as part of PRO-SET’s expansion.”