M&A Deal Summary

OpenGate Capital Acquires Duraco Specialty Tapes

On June 20, 2019, private equity firm OpenGate Capital acquired manufacturing company Duraco Specialty Tapes LLC from Essentra PLC for 77M USD

Acquisition Highlights
  • This is OpenGate Capital’s 3rd transaction in the Manufacturing sector.
  • This is OpenGate Capital’s 2nd largest (disclosed) transaction.
  • This is OpenGate Capital’s 12th transaction in the United States.
  • This is OpenGate Capital’s 1st transaction in Illinois.

M&A Deal Summary

Date 2019-06-20
Target Duraco Specialty Tapes LLC
Sector Manufacturing
Buyer(s) OpenGate Capital
Sellers(s) Essentra PLC
Deal Type Divestiture
Deal Value 77M USD

Target

Duraco Specialty Tapes LLC

Forest Park, Illinois, United States
website
Duraco is a B2B manufacturer of specialty 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. Duraco’s customer service team will continue to offer their expertise to customers determining which products are ideal for their applications. With a highly diversified customer base, Duraco maintains loyal relationships for over 40 years and is continuously growing with over 6,800 customers in 2018. Headquartered in Forest Park, Illinois, Duraco has a workforce of 133 employees, with three service centers that are located in Los Angeles, California, Edison, New Jersey, and Houston, Texas.

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Buyer(S) 1

Buyer

OpenGate Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 305M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

OpenGate Capital is a private investment firm focused on acquiring divestitures of larger public corporations or troubled companies needing restructuring. OpenGate does not focus any particular industry and will consider opportunities throughout North America and Europe. The Firm's target company size range is $50 million to $1 billion. OpenGate Capital was formed in 2005 and has offices in Los Angeles and Paris.


DEAL STATS #
Overall 35 of 44
Sector (Manufacturing) 3 of 3
Type (Divestiture) 24 of 28
State (Illinois) 1 of 3
Country (United States) 12 of 18
Year (2019) 4 of 6
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-14 Omniplast BV

Veghel, Netherlands

Omniplast BV produces and distributes pressure and non-pressure PVC piping systems for the transportation of gases and fluids.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 InRule Technology, Inc.

Chicago, Illinois, United States

InRule is a decision management platform and business rules management system (BRMS). InRule enables enterprises to understand and automate decisions with unparalleled speed, agility, accuracy, and transparency. InRule Technology, Inc. was founded in 2002 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

Essentra PLC

Milton Keynes, United Kingdom

website


Category Company
Founded 2005
SectorPlastics
Employees7,803
Revenue 896M GBP (2020)
DESCRIPTION

Essentra is a supplier of plastic and fibre products. Essentra was founded in 2005 and is based in Milton Keynes, the United Kingdom.


DEAL STATS #
Overall 6 of 6
Sector (Manufacturing) 1 of 1
Type (Divestiture) 6 of 6
State (Illinois) 1 of 1
Country (United States) 3 of 3
Year (2019) 3 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 Essentra Extrusion B.V.

Buitenpost, Netherlands

Essentra Extrusion B.V. is an efficient supplier of plastic extrusions in the world offering the highest quality customer experience and the best value product in the market.

Sell €16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Innovative Components, Inc.

Schaumburg, Illinois, United States

Innovative Components, Inc. is a manufacturer and distributor of plastic clamping knobs, control knobs, metal knobs, wire rope lanyards, thread detectives, and quick release pins such as positive locking pins, ring detent pins, spring loaded plunger pins, wire lock pins, lynch pins, pop pins, selector pins, and weight stack pins.

Buy -