OpenGate Capital’s portfolio company, Duraco Specialty Tapes, a manufacturer of pressure-sensitive tapes and specialty materials, has acquired Filmquest Group (Filmquest), a converter and supplier of polyester (PET) and specialty films, from a private seller
Terms of the transaction have not been disclosed.
Filmquest, headquartered in Bolingbrook, Illinois, coats, converts and metallises all grades of PET film for use in the high-growth flexible packaging market under the trademarked Questar and Soft Touch product lines. Filmquest has a workforce of more than 50 employees and will continue to be led by current President, John Felinski, as part of Duraco.
The add-on acquisition of Filmquest expands Duraco’s product offering into specialty films within the USD18 billion, high-growth, flexible packaging market in the US. Filmquest will also benefit from Duraco’s substantial investment in the company’s commercial and operational capabilities to better serve its customers.
Source: Private Equity Wire
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