Clearlake Capital Group portfolio company Intertape Polymer Group has acquired Clysar, a North American manufacturer of polyolefin shrink film, for undisclosed terms. Clysar is located in Clinton, Iowa, and was established in 1963. Its films are used in high-clarity retail, food, multipack and protective packaging.
Clysar will go to market as Clysar, an IPG Company. Its brand will remain in place alongside IPG’s Exlfilm brand, giving IPG two brands in the shrink film category. The deal expands IPG’s manufacturing capabilities in North America and strengthens its relationships with distribution partners and end users.
Clearlake manages more than $185 billion in assets under management. IPG, headquartered in Sarasota, Florida, makes tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery.
Source: PE Hub · Summarized by HeadlinesBriefing