CHICAGO, June 4, 2020 /PRNewswire/ -- XLCS Partners,
Inc., a leading middle market investment bank, is pleased to
announce it served as exclusive advisor to Nortech Packaging and
Tishma Technologies in sale to Intertape Polymer Group Inc. (IPG).
Schaumburg, Illinois based
Nortech manufactures, assembles and services automated packaging
machines under the Nortech Packaging and Tishma Technologies
brands. Its custom-infeed and robotic solutions for packaging
applications are designed for cartoning, case-packing,
case-erecting, pouch-packaging and palletizing. Founded in 2001,
the Company services customers worldwide across major industries
including food, pharmaceutical, e-commerce, confections, personal
care and cosmetics, and beverage.
IPG (TSX:ITP) is a recognized leader in the development,
manufacture and sale of a variety of paper- and film- based
pressure sensitive and water-activated tapes, polyethylene and
specialized polyolefin films, protective packaging, woven coated
fabrics and complementary packaging systems for industrial and
retail use. Headquartered in Montreal,
Quebec and Sarasota,
Florida, IPG employs approximately 3,600 employees with
operations in 30 locations, including 21 manufacturing facilities
in North America, four in
Asia and one in Europe.
The acquisition will expand IPG's product bundle into
technologies that are increasingly critical to automation in
packaging. With an installed fleet of more than 400 machines, the
acquisition provides IPG with opportunities to supply consumables
to the existing fleet, as well as deploy system-selling for new
customers combining machines with ongoing consumables. The
acquisition will add engineering automation and integrated robotic
design talent to IPG's existing engineering and design teams. Upon
closing, IPG expects these new capabilities will allow it to
service customers experiencing growth pressures that require a
customized automation solution.
"Anthony's in-depth understanding of our business combined with
the firm's streamlined process, marketing efforts, and packaging
sector knowledge produced excellent results," said David Showman, Nortech Packaging and Tishma
Technologies President. "We are very excited about the future and
greatly appreciate the guidance and hard work of the XLCS
team."
XLCS acted as the exclusive M&A advisor to Nortech Packaging
and Tishma Technologies and the transaction was led by Anthony Contaldo, Partner and Head of XLCS's
Packaging Industry Practice Group. The transaction was completed on
February 11, 2020.
About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A
advisory services to select clients globally. More information is
available at www.xlcspartners.com.
Contact: Kendra Span,
847-836-7036, kspan@xlcspartners.com
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SOURCE XLCS Partners, Inc.