FOREST PARK, Ill.--(BUSINESS WIRE)--OpenGate Capital portfolio company, Duraco Specialty Tapes (“Duraco” or “Company”), a leading manufacturer of pressure-sensitive tapes and specialty materials, announced today that it has acquired 3 Sigma, a custom solution provider of pressure-sensitive 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 an established 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 add-on acquisition of 3 Sigma significantly broadens Duraco’s technical toolbox and manufacturing capabilities to better serve customers with a more expansive and diverse set of custom formulated products and high value manufactured solutions.
OpenGate Capital acquired Duraco in June 2019 and previously completed two add-on acquisitions, with Infinity Tapes in February 2020, and Filmquest Group in March 2021.
Ed Byczynski, Chief Executive Officer of Duraco, stated, “The acquisition of 3 Sigma builds on Duraco’s commitment to provide a complete portfolio of high-value solutions to our current customers and end markets while expanding access into new, strategic industry verticals. The addition of 3 Sigma will further accelerate our growth trajectory and places us at the forefront of cutting-edge development to meet the evolving needs of our end markets.”
Andrew Nikou, OpenGate Capital’s Founder and CEO stated, “The add-on acquisition of 3 Sigma to the Duraco platform reflects OpenGate’s buy-and-build strategy in action and positions the Company to be a leading provider of custom specialty materials in North America.”
Tony Rowley, President of 3 Sigma, added, “Duraco’s established commercial capabilities, paired with 3 Sigma’s unique technology and offerings solidify the Company as a market leader and trusted partner.”
“As we considered new owners of 3 Sigma, we felt Duraco was the best fit to provide the greatest opportunity for the company and its employees moving 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. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 30 acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
About Duraco Specialty Tapes
Duraco is B2B manufacturer of pressure-sensitive tapes and specialty materials, which are sold into highly attractive end markets including Point-of-Purchase displays, appliances, transit packaging, construction, signage, and HVAC. Duraco’s application-specific tapes are strong alternatives to mechanical fasteners and traditional glues offering longevity, strength, efficiencies in customer’s assembly operations and breadth of substrates. In 2020, Duraco expanded its capabilities with the acquisition of Infinity Tapes, a leading manufacturer of customized adhesive products serving the high growth industrial and transit packaging end markets. Duraco is headquartered in Forest Park, IL. With warehousing locations throughout the United States and Canada, Duraco has a workforce of over 200 employees and has been maintaining loyal relationships for over 40 years and is continuously growing 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 solvent, emulsion, and hot melt technology expertise to produce both specialty and complex adhesive constructions at both its headquarters in Troy, Ohio, and its Lancaster, OH facility.