Acquisition Expands Product Offering in High Growth Markets
LOS ANGELES, CA – March 3rd, 2020 – OpenGate Capital, a global private equity firm, announced today that its portfolio company, Duraco Specialty Tapes (“Duraco”), a leading manufacturer of pressure-sensitive tapes, has acquired Infinity Tapes, a manufacturer of customized adhesive products, from a private seller. Terms of the transaction were not disclosed.
Infinity Tapes, headquartered in Lawrence, Massachusetts is a manufacturer of double coated tapes, silicon coated liners and tamper evident products in the transit packaging and industrial end markets. Infinity Tapes has a workforce of approximately 45 employees and will continue to be led by President Craig Allard as a division of Duraco.
The addition of Infinity Tapes expands Duraco’s product offering in the high growth transit packaging and industrial end markets. The combined business will also benefit from Craig Allard’s decades of experience in product development as Duraco continues to provide an extensive set of unique solutions to its customers. Duraco will continue to actively seek further add-on acquisitions.
“We are excited to welcome Infinity Tapes to the Duraco team. The integration of Duraco and Infinity Tapes advances our mission to expand into additional industries and complements our overall product offering so that we can now provide a wider array of products for our customers’ applications,” said David Danelz, CEO of Duraco.
“The acquisition of Infinity Tapes by Duraco is an incredible opportunity for our team. We look forward to expanding our business alongside Duraco and this partnership will allow us to better service our growing customer base,” said Craig Allard, President of Infinity Tapes.
OpenGate Capital sourced Infinity Tapes through proprietary conversations with the seller. From the firm’s Los Angeles office, the following team members are responsible for negotiating and overseeing the investment: Matthias Gundlach, Managing Director – M&A; Aaron Figura, Principal – M&A; Paul Bridwell, Managing Director – Operations; and Vinay Menon, Vice President – Operations.
Mesirow Financial, Inc. served as exclusive financial advisor to Duraco on the transaction and has a standing engagement with Duraco to continue sourcing and advising on future acquisitions.
OpenGate acquired Duraco in July of 2019 as one of six platform investments completed in the same year.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe. With a strategic international presence and a focus on corporate carve-outs and complex situations, the firm’s expertise allows it to realize a seller’s divestiture objectives while mitigating the risks associated with a business’s transition to independence. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com.
Duraco is B2B manufacturer of pressure-sensitive tapes, which are sold into highly attractive end markets including Point-of-Purchase displays, appliances, transit packaging, construction, signage and HVAC. Duraco’s application- specific tapes are strong alternatives to mechanical fasteners and traditional glues offering longevity, strength, efficiencies in customer’s assembly operations and breadth of substrates. Headquartered in Forest Park, IL and with warehousing locations throughout the United States and Canada, Duraco has a workforce of 150 employees and has been maintaining loyal relationships for over 40 years and is continuously growing with over 6,800 customers. To learn more about Duraco, please visit www.duraco.com.
For more information, please contact:
OpenGate Media Contacts:
Telephone: 1 (310) 432-7000
OpenGate Business Development Contact:
Telephone: 1 (310) 432-7000
Duraco Specialty Tapes Contact:
Telephone: 1 (708) 410-8600
# # #