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, firstname.lastname@example.org
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SOURCE XLCS Partners, Inc.