Intertape Polymer Group to Be Acquired by Clearlake Capital in $2.6 Billion Deal

Paul, Weiss is advising Intertape Polymer Group Inc. in its all-cash $2.6 billion buyout by Clearlake Capital Group, L.P. Montreal-based IPG is a leading maker of tapes, films, protective packaging, woven and non-woven products and packaging machinery. Clearlake will acquire the outstanding shares of IPG for CDN$40.50 per share, which represents a premium of approximately 82% to yesterday’s closing price. The transaction, which will be executed via a court-approved plan of arrangement, is expected to close in the third quarter of 2022, subject to shareholder, regulatory and court approvals.

The Paul, Weiss team includes, among others, corporate partners Adam Givertz, Ian Hazlett and Scott Barshay; executive compensation partner Lawrence Witdorchic; tax partner Scott Sontag and counsel Kevin Colan; intellectual property partner Jonathan Ashtor and counsel Michael Kurzer; and antitrust counsel Marta Kelly and Jared Nagley.