Duraco Specialty Tapes Acquires 3 Sigma, Expanding Coating and Internal Formulation Capabilities and Scoring Three Add-Ons in 24 Months
FOREST PARK, Illinois – (COMMERCIAL THREAD) – OpenGate Capital’s portfolio company, Duraco Specialty Tapes (“Duraco” or “Company”), a leading manufacturer of pressure sensitive tapes and specialty materials, today announced the acquisition of 3 Sigma , a custom solutions provider of self-adhesive tapes products and specialty coatings from Brixey & Meyer Capital. Terms of the transaction were not disclosed.
Headquartered in Troy, Ohio, 3 Sigma has a wide range of coating technologies and powerful in-house adhesive formulation capabilities. 3 Sigma has a proven track record of providing unique, high-quality, custom solutions to customers in high-growth health and beauty, flexible packaging, food and beverage, and medical end-markets.
The complementary acquisition of 3 Sigma significantly expands Duraco’s technical toolbox and manufacturing capabilities to better serve customers with a larger and more diverse set of custom-formulated products and high-value-added manufactured solutions.
OpenGate Capital acquired Duraco in June 2019 and previously made two complementary acquisitions, with Infinity Tapes in February 2020 and Filmquest Group in March 2021.
Ed Byczynski, CEO of Duraco, said: “The acquisition of 3 Sigma builds on Duraco’s commitment to provide a comprehensive portfolio of high value-added solutions to our current customers and end markets while expanding access to new strategic vertical markets. The addition of 3 Sigma will further accelerate our growth trajectory and place us at the forefront of advanced development to meet the evolving needs of our end markets.
Andrew Nikou, Founder and CEO of OpenGate Capital, said: “The complementary acquisition of 3 Sigma to the Duraco platform reflects the strategy to buy and build OpenGate in action and positions the company as one leading suppliers of custom specialty materials in North America. ”
Tony Rowley, President of 3 Sigma, added, “Duraco’s established business capabilities, coupled with 3 Sigma’s unique technology and offerings, strengthen the company as a market leader and trusted partner.
“As we considered new owners of 3 Sigma, we felt that Duraco was the best solution to provide the best opportunity for the company and its employees to grow into the future,” said David Brixey, CEO of Brixey & Meyer Capital.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Founded in 2005, OpenGate Capital is headquartered in Los Angeles, California, with a European office in Paris, France. OpenGate professionals have the essential skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate Capital has completed over 30 acquisitions in North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
About Duraco Specialty Tapes
Duraco is a B2B manufacturer of self-adhesive tapes and specialty materials, which are sold in very attractive end markets, including point-of-sale displays, home appliances, transport packaging, construction, signage and HVAC. Duraco’s application specific tapes are solid alternatives to mechanical fasteners and traditional adhesives providing longevity, strength, efficiency in customer assembly operations and substrate width. In 2020, Duraco expanded its capabilities with the acquisition of Infinity Tapes, a leading manufacturer of custom adhesive products serving high-growth industrial and transportation packaging end markets. Duraco is headquartered in Forest Park, Illinois. With warehouses in the United States and Canada, Duraco has over 200 employees and has enjoyed loyal relationships for over 40 years and continues to grow with over 6,800 customers. To learn more about Duraco, please visit www.duraco.com.
About 3 Sigma
3 Sigma is a fast growing innovator of pressure sensitive adhesive coated products. 3 Sigma uses its expertise in solvent, emulsion and hot melt adhesive technology to produce specialized and complex adhesive constructions at both its headquarters in Troy, Ohio, and its plant in Lancaster, OH.