OpenGate Continues Build of Tape Platform

Duraco Specialty Tapes, a portfolio company of OpenGate Capital, has acquired Infinity Tapes, a manufacturer of adhesive products. OpenGate acquired Duraco from UK-based Essentra in July 2019.

Infinity Tapes is a manufacturer of double-coated tapes, adhesive transfer tapes, tamper-evident films and tapes, and silicone-coated papers and films that are used in the transit packaging and industrial end markets.

The company, led by President Craig Allard, has 45 employees and is headquartered north of Boston in Lawrence, Massachusetts.

Duraco is a business-to-business manufacturer of specialty tapes which are used in point-of-purchase displays, appliances, transit packaging, construction, signage, and HVAC applications. Duraco’s application-specific tapes are considered alternatives to mechanical fasteners and traditional glues and offer better adhesion and efficiencies in customer’s assembly operations.

Duraco has more than 6,800 customers and 150 employees. The company is headquartered near Chicago in Forest Park, Illinois with three service centers in Los Angeles, California; Edison, New Jersey; and Houston, Texas.

“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.

OpenGate acquires companies that have revenues from $50 million to $1 billion and specializes in corporate carve-outs and complex situations. The firm was founded in 2005 and is headquartered in Los Angeles with an additional office in Paris.

The OpenGate transaction team was composed of Managing Director Matthias Gundlach; Principal Aaron Figura; Managing Director – Operations Paul Bridwell; and Vice President – Operations Vinay Menon.

OpenGate continues to seek additional add-on acquisitions for Duraco. Mesirow Financial was the financial advisor to Duraco on the transaction and has a standing engagement with Duraco to continue sourcing and advising on future acquisitions.

© 2020 Private Equity Professional | March 4, 2020

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