Shurtape Technologies Expands Tape Business with Acquisition of Syntac Coated Products
HICKORY, N.C. — Shurtape Technologies, a producer of pressure-sensitive tapes, acquired Syntac Coated Products, a designer and manufacturer of adhesive coated products.
Shurtape is a fifth-generation, family owned, global business that delivers tape solutions to the packaging, building and construction, DIY, HVAC, industrial, maintenance, repair and operations (MRO), arts and entertainment, and transportation industries.
Syntac was established in 2001 and designs industrial adhesive and tape products for automotive, medical, construction, graphic arts, sound control and product assembly applications.
Together, the companies will offer a product portfolio that includes cloth and duct, masking and paper, packaging, foil, film, double-coated and transfer tapes, in addition to packaging dispensers and equipment for automated and manual case sealing applications.
“The combination of Shurtape and Syntac enhances our ability to support our customers through expanded research and development capacity, broadened production capabilities and global distribution,” said Stephen Shuford, CEO for Shurtape Technologies. “We are excited about the future and look forward to the growth that this merger makes possible for ourselves and for our valued customers.”
“Together, we remain dedicated to delivering unmatched innovation, service and quality to the industries we serve and look forward to providing our customers with a broad range of product options and enhanced service capabilities to meet their ever-evolving needs,” added Curt Rutsky, CEO for Syntac Coated Products.
Syntac’s staff of approximately 50 will join more than 1,500 Shurtape employees globally. The company, which will be renamed Shurtape Specialty Coating, will continue to operate its 60,000-square-foot facility in New Hartford, CT, and the new 23,000-square-foot facility in Sarasota, FL.
Shurtape received financial advice from North Inlet Advisors, and legal advice from Robinson, Bradshaw & Hinson, P.A., in connection with the acquisition. Terms of the deal were not disclosed.