Quebec court paves way for Intertape deal
Intertape Polymer Group Inc. has announced that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the company by an affiliate of Clearlake Capital Group, L.P. 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.
Intertape Polymer Group Inc. is a manufacturer 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.
Clearlake Capital Group, L.P. is an investment firm, operating integrated businesses across private equity, credit, and other related strategies.