Nekoosa Coated Products, a Wingate Partners portfolio company, acquires IGI Corp., parent of RTape and CET Films
DALLAS, April 24, 2013 /PRNewswire/ -- Wingate Partners, a Dallas, Texas based investment firm, announced today that its portfolio company, Nekoosa Coated Products, has acquired IGI Corp., parent of RTape Corp. and CET Films Corp. The combination of Nekoosa Coated Products and IGI Corp. enhances the ability of both organizations to deliver innovative products and programs to their valued global channel partners. Paul Charapata, CEO of Nekoosa Coated Products, will lead the new organization.
"We are privileged to grow our partnership with Paul, his terrific Nekoosa team and an outstanding team at IGI Corp. RTape Corp. has a long-standing reputation as the leader in application tape and a very unique, highly valuable network of distribution partners. We look forward to expanding our relationships with these vital partners," said Brad Brenneman, Wingate principal.
Paul Charapata, CEO of Nekoosa Coated Products added, "We are excited about this unique opportunity to combine two market leading businesses that are centered on a common goal of providing exceptional value to their respective channel partners. The unified strength from this combination will provide our employees and customers with outstanding long term growth opportunities."
Bud Philbrook, CEO of IGI Corp., will serve as a member of the Board of Directors for the combined organization. "I am very proud of the employees of both RTape and CET Films. Their efforts, combined with the support of our marketplace partners, have resulted in an outstanding market position. The opportunity to join forces with Nekoosa Coated Products provides the perfect platform for long term success," said Philbrook. "Nekoosa Coated Products is an outstanding company that is well aligned to our core principles and growth goals. I look forward to serving as a director in support of Paul's leadership."
Wingate was advised on the transaction by Haynes and Boone.
Nekoosa Coated Products: Headquartered in Nekoosa, Wisconsin, Nekoosa Coated Products is known for 45 years of innovation in carbonless paper technology and more recently an expanding line of specialty products. The portfolio of specialty products includes: Synaps® OM and Synaps® Digital XM, premium synthetic papers from AGFA; ThermaTac™, a digital removable vinyl signage product; Thermanent®, a premium digital polyester; MagneCote®, the world's first magnetic paper; a full line of FSC®-certified (Forest Stewardship Council) digital coated papers, Nekoosa Display Board and other specialty papers. Wingate Partners of Dallas, Texas acquired Nekoosa Coated Products in October of 2012. For more information on Nekoosa Coated Products, visit www.nekoosacoated.com.
RTape Corp.: Founded in 1980 and headquartered in South Plainfield, New Jersey, RTape, an IGI Corp. company, manufactures a wide range of products for the sign, screen print and digital printing markets. Products include Conform Series®, ApliTape™ and Clear Choice® application tapes and screen print premask and pre-space tapes, DigiMask® surface protection masking for digital prints, Eclypse™ overlaminating films, ChalkTalk® chalkboard film, EZ Erase® dry erase vinyl, ProGrade™ paint mask, Claritex® printable polycarbonate films, and VinylEfx® embossed metalized vinyl films. For more information on RTape Corp. visit www.rtape.com.
CET Films Corp.: Founded in 1973 and headquartered in Lakewood, New Jersey, CET Films, an IGI Corp. company, manufactures cast custom extruded films for a range of niche graphic arts and ancillary markets. Resin capabilities include acrylics, PC, PVC and PETg. CET Films' product lines include ClariCap™ acrylic films for the lamination of PVC, ABS, PC and HIPS and ClariGuard™ laser engravable security films. For more information on CET Films Corp. visit www.cetfilms.com.
Wingate Partners: Founded in 1987 to purchase controlling equity interests in companies where equity value is created by improving the operating performance of the business and by developing long-term strategies to exploit changing industry dynamics. Our professionals bring substantial senior-level operating and strategic experience in addition to extensive careers in acquiring companies. www.wingatepartners.com
SOURCE Wingate Partners