IPG to be Acquired by Clearlake Capital in $2.6 Billion Transaction
Intertape Polymer Group Inc. (IPG) recently announced that it has entered into a definitive agreement to be acquired by an affiliate of Clearlake Capital Group, L.P. Under the terms of the agreement, Clearlake will acquire the outstanding shares of IPG in an all-cash transaction valued at approximately $2.6 billion, including net debt. Upon completion of the transaction, IPG will become a privately held company.
“We believe this transaction is a great next step in the evolution of our business as Clearlake has strong industry knowledge in the protective packaging and e-commerce ecosystems,” said Greg Yull, president and CEO of IPG. “Clearlake provides us the operational and financial resources to accelerate our acquisition strategy, as well as organic growth opportunities such as investing in product innovation, sustainability, and market expansion. We have built a scaled business serving a diverse set of growing end markets, and have seen particularly strong growth in our large e-commerce segment. Clearlake’s investment reflects its confidence in our people, processes, and strategy, and this transaction will advance our vision of becoming a global leader in packaging and protective solutions. We believe this all-cash transaction represents an attractive return and provides certainty for our shareholder base.”