Intertape Polymer Group Inc
(TSX:ITP)
Shares Issued 59,284,947
Last Close
5/13/2022
$38.90
Friday May 13 2022
- News Release
Mr.
Ross Marshall
reports
SUPERIOR COURT OF
QUEBEC
GRANTS FINAL ORDER TO INTERTAPE POLYMER GROUP INC. APPROVING THE ARRANGEMENT WITH AN AFFILIATE OF CLEARLAKE CAPITAL GROUP, L.P.
The Superior Court of Quebec
has issued a final order approving the previously announced acquisition of
Intertape Polymer Group Inc.
by an affiliate of
Clearlake Capital Group LP
by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act. Pursuant to the terms of the arrangement, the purchaser will acquire all of the outstanding shares of the company for a consideration per share of
$40.50
in cash.
Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement with the purchaser, the arrangement is expected to close early in the third quarter of 2022.
About
Intertape Polymer Group Inc.
Intertape Polymer Group
is a recognized leader in the development, manufacture and sale of a variety of paper and film-based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products, and packaging machinery for industrial and retail use. Headquartered in
Montreal, Que.
, and
Sarasota, Fla.
, IPG employs approximately 4,200 employees with operations in 34 locations, including 22 manufacturing facilities in
North America
, five in
Asia
and two in
Europe
.
About
Clearlake Capital Group LP
Founded in 2006,
Clearlake Capital Group
is an investment firm, operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to dynamic businesses that can benefit from
Clearlake Capital Group's
operational improvement approach, O.P.S. The firm's core target sectors are industrials, consumer and technology.
Clearlake Capital Group
currently has over
$72-billion
of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and
Dallas
.
We seek Safe Harbor.
