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Clearlake Capital-backed IPG Names Protective Packaging Veteran Peter Durette as CEO

Wed, 11 Jan 2023 12:00:00 PST

The appointment signals a new phase of accelerated growth for IPG following its recent take-private acquisition by Clearlake.

Intertape Polymer Group (“IPG” or the “Company”), a global provider of packaging and protective solutions, today announced that Peter Durette will join IPG as Chief Executive Officer (CEO) and a member of the Board of Directors. Former CEO Gregory Yull will retire from full-time duties after over 30 years with IPG, including 12 years as CEO and President, and will work with Mr. Durette and the Company as a board advisor to enable a seamless transition and to continue to support the Company. Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) acquired IPG in June 2022 in a take-private acquisition.

Mr. Durette has more than 25 years of experience leading and transforming global organizations in the packaging sector with a demonstrated track record of profitable growth, operational excellence, and strategy development and execution. Prior to joining IPG, he served as president of the Corrugated Packaging business at WestRock Corporation (NYSE: WRK), the company’s largest division with more than $8 billion of sales. Prior to this role, Mr. Durette led a number of other businesses at WestRock and served as Chief Strategy Officer for the company. While at WestRock, Mr. Durette was responsible for the post-merger integration of MeadWestvaco and RockTenn, which resulted in the formation of WestRock, and played a key role in scaling WestRock into one of the largest corrugated packaging companies globally. Mr. Durette’s industry knowledge and operating experience are complementary to IPG’s mission to drive strategic growth.

“I am deeply honored by the opportunity to succeed Greg and build upon the foundation that he and his team have established over the years at IPG,” said Mr. Durette. “IPG’s broad range of packaging and protective solutions, its track record of exceptional service and quality, and its core focus on sustainability provide a unique value proposition to its customers. It is clear to me that IPG is well-positioned to capitalize on both the continued growth of e-commerce and adoption of sustainable packaging alternatives. I am excited to join the Company and partner with IPG’s leadership team and employees, valued customers, and the Clearlake team to drive future success in the business.”

“Leading IPG has been a great privilege, and I am confident that Pete’s experience aligns with IPG’s values focused on integrity, sustainability, customer satisfaction and profitable growth,” added Mr. Yull. “I am impressed by Pete’s track record and credentials and believe he is the right successor to lead the Company in this next chapter. I know IPG is positioned to accelerate its growth and improve upon its foundation of operational performance under Pete and Clearlake. I look forward to collaborating with him to ensure a smooth transition for all of our stakeholders and continuing to contribute to IPG’s success as a board advisor.”

“We are thrilled to welcome Pete to the IPG executive team. Pete brings decades of packaging experience, most recently at global packaging provider WestRock where he was responsible for revenue growth, profitability, and shareholder value through organic and acquisitive growth strategies. His background and vision complement IPG’s customer-centric and sustainability oriented strategy, and his operating experience aligns well with Clearlake’s O.P.S.® approach, making him an ideal choice to lead the Company in its next stage of growth,” said José E. Feliciano, co-founder and managing partner, and Arta Tabaee, partner and managing director, at Clearlake. “On behalf of Clearlake and IPG, we would like to thank Greg for his leadership and dedication to the Company and look forward to continued collaboration with him in his capacity as board advisor.”

About IPG

Headquartered in Sarasota, Florida, IPG is a global provider of packaging and protective solutions across a diversified set of geographies and end-markets. The Company develops, manufactures, and sells a variety of solutions including paper and film-based pressure-sensitive and wateractivated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery. For information about the Company, visit www.itape.com.

About Clearlake

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

3 Roofing Underlayments Designed for Contractors

Fri, 23 Sep 2022 06:00:00 PDT

By Cass Jacoby.

Tuck® NovaSeal® roofing underlayments are designed with the contractor in mind; learn what makes these products superior.

NovaSeal® roofing underlayments are designed to help contractors deliver quality roofs that meet Canadian construction market requirements, satisfying both the architects and trade professionals as they build multi-family homes and residential and commercial buildings across the country.

The underlayments are lighter and easier to handle, with a 10-square roll only weighing 29 pounds for fast installation. Additionally, these underlayments offer exceptional tear and puncture resistance and greater roof coverage per roll than traditional roofing felt. Made from woven polypropylene and a slip-resistant nonwoven top surface, these underlayments offer superior waterproofing as well as excellent slip resistance.

Learn more about the three underlayments TUCK® offers and why they are such an asset for roofing contractors.

1 - NovaSeal® PRIME

NovaSeal® PRIME forms a barrier in the roofing system that helps to completely waterproof and protect residential steep-slope roofs in the most extreme weather conditions. This synthetic roof underlayment delivers long-term weather barrier performance. Additional benefits specific to NovaSeal® PRIME include:

Requires fewer fasteners and fewer repairs than typical asphalt felt products
No special tools required

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Extended UV protection – can be left exposed for up to 90 days

2 - NovaSeal® ELITE

NovaSeal® ELITE is designed to be used under metal, asphalt shingles, synthetic shingles, primed cedar shakes and most tiles. The underlayment forms a barrier in the roofing system, working to protect either residential or commercial steep-slope roofs in the most extreme weather conditions. Additional benefits specific to NovaSeal® ELITE include:

Superior wind uplift resistance

Rolls out flat and will not wrinkle, crack or leach
Strong and pliable material that performs in the most extreme temperatures
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Extended UV protection – can be left exposed for up to 90 days

3 - NovaSeal® ULTRA

NovaSeal® ULTRA is designed for use under metal, asphalt shingles, synthetic shingles, primed cedar shakes and tiles. ULTRA forms a barrier in the roofing system that helps protect residential or commercial steep-slope roofs in the most extreme weather conditions and deliver exceptional long-term weather barrier performance. Additional benefits specific to NovaSeal® ULTRA include:

Durable, woven construction holds up to rugged tile, metal and slate installs
Strong and pliable material that performs in the most extreme temperatures
Will not crack or dry out under metal or tile
Withstands UV exposure for up to 180 days

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NovaSeal® prides itself on protecting what is under the roof. It offers advanced performance and helps to dry-in buildings immediately.

Learn more about TUCK in their RoofersCoffeeShop Directory or visit www.tuckbuilding.com.

About Cass

Cass works as a reporter/writer for RoofersCoffeeShop, AskARoofer and MetalCoffeeShop. When she isn’t writing about roofs, she is putting her Master degree to work writing about movies and dancing with her plants.

Intertape Polymer Group® Launches New Flame Retardant Polyethylene Tape

Wed, 15 Jun 2022 12:00:00 PDT

Intertape Polymer Group Inc. (“IPG” or the “Company”), a leading manufacturer in tapes and films, announced the launch of a new flame retardant polyethylene (PE) tape called PEFR.

IPG’s PEFR polyethylene tape is a heavy-duty tape ideal for healthcare facilities, institutional buildings, laboratories, shipyards and construction sites where flame retardant materials are required to add a critical layer of security of fire protection. It is ideal for use in abatement, surface protection, marine and heavy equipment preservation and long-term storage.

PEFR’s aggressive rubber adhesive is formulated to create a conformable water tight seal and provide an additional layer of fire and flame resistance and is ideal for use with flame retardant films, surface protection and textiles. Its moisture and solvent resistance deliver excellent results in a variety of environmental conditions. PEFR is strong and durable with aggressive adhesion to a variety of surfaces but is repositionable during use without leaving messy residue.

PEFR meets fire test requirements and passes flame retardancy standards established in NFPA 701 (Fire Test for Flame Propagation of Textiles and Films that measures the ignition resistance of the tape when applied to surfaces). Additionally, PEFR is tested in accordance to ASTM E 84 (UL 723) meeting Class A and Type 1 ratings.

“PEFR tape is ideal for use in the institutional and construction markets where heavy-duty, flame retardant surface protection, seaming or sealing is needed, especially when used around highly combustible gases,” stated Anthony Vigliotti, product manager. “It is also often required for various marine refurbishment and naval base abatement and remediation applications.”

“It’s is an excellent product for use in seaming films, hanging sheeting, sealing marine preservation films in a variety of settings including hospitals, nursing homes, medical facilities and marine shipyards,” explained Jeff Coats, director of market development. “Meeting both NFPA 701 and Class A ratings as defined by ASTM E 84 makes PEFR an economical and essential tool.”

For additional information regarding the PEFR or other IPG polyethylene tape products, please contact your local IPG sales representative or visit www.itape.com.

About Intertape Polymer Group Inc.

Intertape Polymer Group Inc. is a recognized leader in the development, manufacture and sale of a variety of paper and film-based pressure-sensitive and water-activated tapes, polyethylene and specialized polyolefin films, protective packaging, engineered coated products and packaging machinery for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota, Florida, IPG employs approximately 3,700 employees with operations in 31 locations, including 21 manufacturing facilities in North America, four in Asia and one in Europe. For more information about IPG, visit www.itape.com.