Clearlake Capital Group has acquired Intertape Polymer Group, a provider of protective packaging services.

IPG manufactures packaging and protective products and focuses on B2B and e-commerce segments.

“Clearlake’s investment in IPG is an exciting and important step in our company’s evolution,” said Greg Yull, CEO of IPG. “Clearlake has shown confidence in our team and the direction of the company. Throughout our conversations, their team has expressed alignment with our customer-centric and sustainability-oriented approach in all aspects of our organization, and we remain impressed by their understanding of the protective packaging sector. Clearlake’s operational knowledge and resources will grant us the opportunity to strengthen our product bundle, invest behind sustainability, and expand our global footprint.”

Morgan Stanley & Co. LLC served as financial advisor to IPG. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fasken Martineau DuMoulin served as legal advisors to IPG. National Bank Financial Inc. served as financial advisor to the IPG board of directors. Goldman Sachs & Co. LLCCredit Suisse and Deutsche Bank served as financial advisors to Clearlake. Kirkland & Ellis LLP and Stikeman Elliott LLP acted as legal advisors to Clearlake.