Clearlake Capital Group, a Santa Monica, California-based private equity firm, is exploring the sale of packaging company IPG, which could fetch more than $3.5 billion. IPG, headquartered in Sarasota, Florida, produces protective packaging, machinery, and paper and film-based tapes across more than 30 locations worldwide. The deal has attracted interest from private equity firms and other corporations, though no final decision has been made.
Clearlake previously acquired Intertape Polymer Group for about $2.6 billion in 2022. The firm, co-founded in 2006 by José E. Feliciano and Behdad Eghbali, manages more than $185 billion in assets under management.
IPG's portfolio also includes investments in the UK's Chelsea Football Club and the learning software company Discovery Education.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing