M&A Deal Summary

Cortec Group Acquires Ames Taping Tools

On August 1, 2000, private equity firm Cortec Group acquired building materials company Ames Taping Tools from The Sterling Group

Acquisition Highlights
  • This is Cortec Group’s 2nd transaction in the Building Materials sector.
  • This is Cortec Group’s 9th transaction in the United States.
  • This is Cortec Group’s 2nd transaction in Georgia.
Investment Fate
  • Ames Taping Tools was sold to a consortium of buyers in 2005.
  • Ames Taping Tools was sold to a financial buyer in 2017.
  • Ames Taping Tools was sold to a publicly-traded strategic buyer in 2021 for 213M USD.

M&A Deal Summary

Date 2000-08-01
Target Ames Taping Tools
Sector Building Materials
Buyer(s) Cortec Group
Sellers(s) The Sterling Group
Deal Type Secondary Buyout

Target

Ames Taping Tools

Duluth, Georgia, United States
Ames Taping Tools is a designer, manufacturer, rents, and sells specialized construction equipment used for taping and finishing drywall. Ames Taping Tools was founded in 1939 and is based in Duluth, Georgia.

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Buyer(S) 1

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 9 of 49
Sector: Building Materials M&A 2 of 5
Type: Secondary Buyout M&A Deals 1 of 16
State: Georgia M&A 2 of 2
Country: United States M&A 9 of 48
Year: 2000 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-09 Gaymar Industries

Orchard Park, New York, United States

Gaymar Industries is a leading designer and manufacturer of pressure ulcer management systems and temperature management systems for patients in acute care and alternate care settings. Gaymar's products include mattress overlays, mattress replacement systems, air and water based body temperature management systems, and blood/fluid warming systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-01 Manco Products

Fort Wayne, Indiana, United States

Manco Products based at Fort Wayne,Indiana with employs about 125 workers, Manco provides Manufacturing services. Manco spent the summer phasing out its Tecumseh engine line for Robin brand powerplants.

Sell -

Seller(S) 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 2 of 36
Sector: Building Materials M&A 1 of 4
Type: Secondary Buyout M&A Deals 1 of 18
State: Georgia M&A 1 of 1
Country: United States M&A 2 of 33
Year: 2000 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-07-22 Ames Taping Tools

Duluth, Georgia, United States

Ames Taping Tools is a designer, manufacturer, rents, and sells specialized construction equipment used for taping and finishing drywall. Ames Taping Tools was founded in 1939 and is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-08 Coveris Group

Vienna, Austria

Coveris is a global plastic packaging company formed by the combination of Exopack, Britton Group, Kobusch, PACCOR and Paragon Print & Packaging, the company is an established leader in the development, manufacture, and sourcing of flexible and rigid plastic and paper packaging, as well as coatings solutions for various consumer and industrial end-use markets. Coveris was founded in 2013 and is based in Vienna, Austria.

Buy -