May 22, 2023
Fifth Add-On Builds Duraco’s North America Specialty Materials Market Positioning
FOREST PARK, IL – May 22, 2023 – Duraco Specialty Materials (“Duraco” or “Company”), a leading manufacturer of specialty materials including pressure sensitive tapes and labels, coated films, and release liners, announced today that it has acquired Strata-Tac, Inc. (“Strata-Tac”), a leading manufacturer of custom engineered pressure sensitive self-adhesive products and top coated films, from private sellers. Terms of the transaction were not disclosed.
StrataTac, headquartered in St. Charles, Illinois, offers a wide range of customized pressure sensitive solutions, to label convertors and manufacturers. Since its founding in 1995, Strata-Tac has consistently grown its coating capabilities and portfolio in tapes, labels, liners and facestocks to service the critical performance needs of its customers across applications in medical/pharmaceutical labeling, brand protection, and durable labeling.
The add-on acquisition of Strata-Tac continues Duraco Specialty Material’s commitment to deliver technically advanced, customized solutions across growing end markets. The addition of Strata-Tac’s expertise in water-based chemistries complements Duraco’s growing portfolio of sustainable solutions, giving customers immediate access to a broader range of pressure sensitive adhesives for labels and tapes, facestocks, and specialty coated materials.
OpenGate Capital acquired Duraco in June 2019 through a corporate carveout from Essentra PLC and has since completed five add-on acquisitions with Infinity Tapes in February 2020, Filmquest Group in March 2021, 3 Sigma in November 2021, Rayven in December 2021, and now Strata-Tac. With a demonstrated mission of rapidly delivering customized, integrated, turn-key solutions, Duraco supports over 10,000 customers with customized tapes, labels, converted parts, functional coatings, and release liners in high-value end markets including Flexible Packaging, Healthcare, OEM, and e-Commerce.
Ed Byczynski, Chief Executive Officer of Duraco, stated “The addition of Strata-Tac further adds to Duraco’s strong capabilities as a leading manufacturer of custom specialty labels and coated films in North America.”
“Strata-Tac is the latest testament to our focus on add-on investments as an accelerator of growth,” said Andrew Nikou, OpenGate Capital’s Founder and CEO. “The combination of Strata-Tac’s operational capabilities, along with Duraco’s strong operating expertise and its seasoned management team will drive continued commercial growth into new markets.”
“We are thrilled to partner with the strong management and operational teams at Duraco and OpenGate, who share our culture and entrepreneurial values, as well as our drive to create and deliver innovative products for our customers,” said Strata-Tac’s General Manager & Vice President, Andy Schwarzbauer, who remains in his role.
About Duraco Specialty Materials
Duraco Specialty Materials is a North American leader in the customized design, production, and conversion of specialty tapes and labels, converted parts, release liners, films and functional coatings in high-end applications. Duraco’s products serve attractive end markets including Flexible Packaging, Healthcare, OEM, and e-Commerce. Duraco is headquartered in Forest Park, IL and has a workforce of 400 employees.
Strata Tac has nearly 30 years of experience manufacturing custom self-adhesive products and top-coated films. Since opening, we have delivered a wide range of products combining a variety of face stocks, top coatings, adhesives, and liners to the forms and label converting markets. Today, Strata-Tac has the ability to produce both top coated and adhesive coated films, bringing a greater level of service and economy to its customers. Strata-Tac supports customers throughout North America and worldwide.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 41 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
For More Information, Please Contact:
Duraco Specialty Materials Media Contact:
Alan Addington, Duraco Director of Marketing
Co-Head, Investor Relations & Communications
Telephone: +1 937-765-3951