Duraco Specialty Materials, a portfolio company of OpenGate Capital, has acquired Strata-Tac.
Duraco is a business-to-business manufacturer of pressure-sensitive tapes and specialty materials that 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 efficiency in customer’s assembly operations. The company, led by CEO Ed Byczynski, has more than 400 employees and is headquartered near Chicago in Forest Park, Illinois.
Strata-Tac is a manufacturer of pressure sensitive self-adhesive products and top coated films that are used in a range of applications including retail and promotional (coupons, membership cards, window graphics), outdoor and durable (window decals, boat labels, bottle labelling), medical and safety (blood bags, wristbands, medical tapes), industrial and security (tamper-evident seals and tamper-proof labels), consumer package goods (labeling for food, health and beauty products). Privately owned Strata-Tac was founded in 1995 and is headquartered west of Chicago in St. Charles, Illinois.
“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,” said Mr. Byczynski.
OpenGate acquired Duraco in June 2019 through a corporate carveout from UK-based Essentra. The buy of Strata-Tac is the company’s fifth add-on and follows the acquisitions of Infinity Tapes in February 2020, Filmquest Group in March 2021, 3 Sigma in November 2021, and Rayven in December 2021.
“Strata-Tac is the latest testament to our focus on add-on investments as an accelerator of growth,” said Andrew Nikou, OpenGate’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.”
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 based in Los Angeles with an additional office in Paris.
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