The acquisition of Filmquest will enable Duraco to expand its product offering into speciality films within the $18bn flexible packaging market in the US
Duraco Specialty Tapes, a portfolio company of OpenGate Capital, has acquired US-based Filmquest Group for an undisclosed sum.
Based in Bolingbrook, Illinois, Filmquest is said to be a premier converter and supplier of polyester (PET) and speciality films.
Filmquest president John Felinski said: “The acquisition of Filmquest by Duraco is an incredible opportunity for our team. We look forward to expanding our business alongside Duraco and this partnership will allow us to better service our growing customer base.”
Filmquest is engaged in the coating, converting and metallising of all grades of PET film for use in the flexible packaging market.
With a workforce of over 50 employees, Filmquest markets its product lines under Questar and Soft Touch.
The company will continue to be managed by current president John Felinski, as part of Duraco.
The acquisition of Filmquest will allow Duraco to expand its product offering into speciality films within the $18bn flexible packaging market in the US.
Duraco’s significant investment will also allow Filmquest to enhance its commercial and operational capabilities to better serve its customers.
Duraco CEO David Danelz said: “We are excited to welcome Filmquest to the Duraco team. The addition of Filmquest reinforces our vision to add complementary products, customers, and capabilities in high-growth sectors.”
Mesirow Financial served as an exclusive financial advisor to Filmquest on the deal.
In June 2019, OpenGate Capital acquired Duraco, which completed the first add-on investment with Infinity Tapes in February last year.
Duraco is involved in the manufacturing of pressure-sensitive tapes and speciality materials for different end markets such as point-of-purchase displays, appliances, transit packaging, construction, signage and HVAC.