Intertape to use credit facility borrowings to finance acquisition

By Sarah Lizee

Olympia, Wash., Feb. 10 – Intertape Polymer Group Inc. plans to use funds available under its $600 million credit facility to finance its acquisition of substantially all of the operating assets of Nortech Packaging, according to a press release.

The roughly $36.5 million acquisition is subject to some post-closing adjustments and potential earn-out consideration. The transaction is expected to close in the first quarter of 2020.

Intertape Polymer is a developer and manufacturer of specialized polyolefin plastic and paper-based packaging products and complementary packaging systems for industrial and retail use. The company has headquarters in Montreal and Sarasota, Fla. Nortech is a Schaumburg, Ill.-based company which delivers and provides after-market servicing of packaging machines.

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