Transactions | Mergers & Acquisitions | Business Valuations

Functional Coatings

Written by Shields & Company | Jun 7, 2018 2:01:36 AM

Shields & Company has advised Functional Coatings on its sale to tesa tape, inc., North America. Headquartered in Newburyport, Massachusetts, Functional Coatings is a second-generation vertically integrated manufacturer of innovative, VOC-free, hot-melt adhesives, building products, and tapes. 

Stephen Lynch, president and owner, said “The Shields & Company team guided us through every step of the sale process from start to finish.  Their approach to preparation, process design, and negotiation allowed us to achieve an outcome far beyond our expectations.  They found us a wonderful partner in tesa tape that shares our commitment to our employees, culture of engineering excellence, and provides significant global resources to better serve our customers.” 

Paul Sullivan, President and Regional Manager of tesa tape, inc., commented “The innovative adhesive tape and sealing products from Functional Coatings, Inc. are the perfect addition to our existing tesa product range in the building supply segment. This will help us tap into the full potential of this resurgent segment in North America.”

“It was a pleasure working with the Functional Coatings team and being entrusted to find the right partner for this wonderful family business,” said Chris Nicholas of Shields & Company.  “There is a tremendous strategic and cultural fit between the two organizations.  We look forward to what the future holds for this new partnership.” 

Greg O’Shaughnessy of Nixon Peabody LLP served as Functional’s legal advisor and Todj Gozdeck of Grant Thornton provided transaction accounting services to the sellers.  Jeff Corum and Scott Molinaro of Lincoln International and Jason Wagenmaker of Mayer Brown LLP provided financial advisory and legal representation to tesa tape, inc.

 Shields & Company acted as financial advisor to Functional Coatings in the above transaction.