M&As: CCT Coating & Converting joins ATP Adhesive; EnPro divests polymer components segment to private equity firm

US-based adhesive tape specialist CCT Coating & Converting Technologies Inc. has become part of water-based specialty adhesive tapes manufacturer ATP Adhesive Systems Group based in Switzerland. The combination strengthens the market position of both companies and allows to offer an even wider range of tailor-made solutions to its customers, say the firms. Terms were not disclosed.

ATP Adhesive Systems Group is a pioneer in high-performance adhesive tapes, exclusively focusing on water-based technology since over 30 years. The company serves a wide range of end markets, including construction, medical, mobility, electronic applications, and general industries, offering solutions through its in-house R&D capabilities. ATP employs c. 400 staff in its production sites in Germany and the UK as well as in its headquarters and development centre in Switzerland.

Read also: M&As: Hexpol acquires Spanish wire & cable compounder; BDK Industrial Products becomes part of Swiss ATP Adhesive group

CCT Coating & Converting caters to clients in the healthcare sector with leading coating and converting capabilities of specialised adhesive tapes over the past 20 years. CCT’s founder Robert Dempsey as well as CEO Rich Hipp together with their team will continue to run the firm’s operations from their Philadelphia location.

Both firms’ mutual dedication to offer tailor made solutions to its customers, coupled with ATP’s R&D and coating expertise as well as CCT’s long-established presence and reputation in the US market are highly complementary, according to the firms. The management teams of both companies expect to significantly increase its service offering especially to its US customers.

Family investor Bregal Unternehmerkapital acquired ATP in 2019 and together with its management team is focusing on expanding the business globally.

In other news, EnPro Industries, a US-based industrial technology company, has sold its polymer components business to Edgewater Capital Partners, a private investment firm focused on performance materials, based in Cleveland, Ohio. Financial terms were not disclosed. The polymer components business is headquartered in Houston, Texas, with two production facilities in Texas and a smaller site in Pennsylvania, and is part of Enpro’s sealing technologies segment. Revenue in the first half of 2021 was approximately US$20 million.

Under Edgewater ownership, the organisation will be renamed Altamira Material Solutions.

“We are very appreciative of our colleagues’ dedication to producing high-quality products and providing reliable service that our customers have come to expect,” said Eric Vaillancourt, Interim President/CEO of Enpro. “We wish for their continued success as they move forward as Altamira with Edgewater’s support.”

“We continue to execute on our multi-faceted strategy to transform Enpro into a leading industrial technology company,” added Vaillancourt.

Enpro is an industrial technology company focused on niche applications across many end-markets including semiconductor, general industrial, aerospace, food and pharma and life sciences.

(PRA)

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