Rotunda Capital Partners has acquired Bron Tapes, a distributor and converter of specialty tapes and adhesives.
Denver-headquartered Bron Tapes is a producer, converter, and distributor of pressure-sensitive tapes and adhesives that are used in the aerospace and defense, automotive, electronics, building and construction, medical, and manufacturing sectors. The operations of the company include Bron Aerotech, which services the space, aeronautics, and defense markets; and Bron Converting which provides custom converting services such as laminating, die-cutting, kitting, printed tapes, and custom packaging.
Bron Tapes has more than 13,000 customers located in more than 50 countries, and it operates 11 production and distribution centers across the United States. Post-closing, Bron will continue to be led by CEO Mike Shand with former president Michael Flynn serving in an advisory role.
“Bron has built an excellent business known for top-tier customer service. We are excited to partner with Bron’s team to further accelerate the growth of an already strong business,” said Bob Wickham, a partner at Rotunda.
The buy of Bron is the second investment made by Rotunda through its latest fund, Rotunda Capital Partners Fund III LP, which closed in January 2022 with $405 million in capital commitments.
Rotunda invests in businesses with enterprise values of $30 million to $150 million. Sectors of interest include asset-light logistics, value-added distribution, specialty finance, and industrial and business services. The firm was founded as an independent sponsor in 2009 and is led by managing partner John Fruehwirth with offices in Bethesda, Maryland, and near Chicago in Evanston, Illinois.
“Bron is a natural extension of Rotunda’s focus on partnering with family-founder-owned distribution businesses,” said Corey Whisner, a partner at Rotunda. “We look forward to helping the team drive value creation, accelerate organic growth, and pursue add-on acquisitions.”
Now in partnership with Rotunda, Bron Tapes is seeking to acquire other distributors and converters of tapes, adhesives, fabrics, and gaskets.
© 2023 Private Equity Professional | March 24, 2023
