OpenGate Capital portfolio company Duraco Specialty Tapes acquires Infinity Tapes
Global private equity firm OpenGate Capital's portfolio company Duraco Specialty Tapes (Duraco), a manufacturer of pressure-sensitive tapes, has acquired Infinity Tapes, a manufacturer of customised adhesive products, from a private seller.
Terms of the transaction have not been 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,” says 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,” says 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.