Newsletter Desktop Newsletter Mobile

Pittsburgh’s Tecum Capital Partners and Chicago’s Akoya Capital Partners LLC have acquired Primetac Corp., in partnership with the founders and management team. The investment should help Primetac, a distributor of industrial packaging materials in the New York City area, become a larger and stronger national supplier of packaging tapes and related products. 

Tecum provided subordinated debt and equity in support of the acquisition. The two PE firms have worked together on prior transactions.

“Under the leadership of the Feniello family, Primetac has established itself as a premier brand within the pressure sensitive tape and stretch film market. We look forward to building on the great reputation and culture they’ve developed,” Tecum Managing Partner Stephen Gurgovits Jr. said, in a statement.

“They have built Primetac into a profitable, well-respected company that offers high-quality products delivered expediently to packaging distributors. We plan to build on this solid foundation with investments to increase sales coverage, as well as expand service and product offerings. In addition, we see several acquisition opportunities to accelerate growth and add new capabilities,” Akoya Managing Partner Carr Preston added.

With over $500 million of assets under management, Tecum invests private capital in lower middle market companies. Akoya is a sector-focused independent sponsor that creates and nurtures partnerships between management and capital.

Peapack-Gladsone Bank provided senior debt financing for the transaction. Primetac was represented by Strategic Exit Advisors, a Philadelphia based investment bank.