Sarasota tape manufacturer acquires Iowa shrink film maker

A Sarasota manufacturer of tapes and protective packaging has acquired an Iowa shrink film producer. Intertape Polymer Group purchased Clysar. Financial terms of the deal were not disclosed.

For more than 60 years, Clysar has been developing polyolefin shrink films in Clinton, Iowa. Its products are used for retail, food, multipack and protective packaging where appearance, product containment and durability are important. Clysar will go to market as Clysar, an IPG company, according to a statement. 

“Clysar has a trusted brand, high-quality products and a talented team in a strategically important category for IPG,” says Pete Durette, CEO of IPG, in the statement. “We see a significant opportunity to build on Clysar’s strengths and leverage the broader IPG platform, and to deliver increased value to our customers and other stakeholders.”

IPG will continue to market its shrink wrap brand alongside Clysar’s offerings.

“Joining IPG marks an exciting new chapter for Clysar,” Vicki Larson, president of Clysar, says in a statement. “We are excited about this partnership and look forward to the next stage of Clysar’s growth as part of the IPG family.”

The deal was backed by Clearlake Capital Group, a global alternative asset manager out of Santa Monica, California, that has more than $185 billion in assets under management.