CHICAGO, June 20, 2007 (PRIME NEWSWIRE) -- Filtrona plc, based in the United Kingdom, has acquired Duraco, Inc., a privately held manufacturer of branded adhesive coated foam products, for $61 million in an all-cash transaction.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive advisor to Duraco, Inc.
"The acquisition of Duraco reflects Filtrona's strategy for growing the company through a combination of organic development and acquisitions. Duraco is an important addition to the protection and finishing products activity, which has already grown to become Filtrona's largest business," said Mark Harper, chief executive officer of Filtrona.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
As specialists in facilitating mergers and acquisitions, structuring recapitalizations, providing access to capital markets and offering fairness opinions, RSM EquiCo Capital Markets plays a noteworthy role in the "middle-market" field. These services include facilitating the acquisition of North American companies and raising capital for a wide variety of purposes, ranging from acquisitions and leveraged buyouts to balance sheet restructuring.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Duraco, Inc.
Duraco, Inc. is a leading manufacturer and value-added distributor of branded custom and stock adhesive coated products serving a variety of customers in the point-of-purchase display, exhibit, plastic fabrication, appliance, HVAC, automotive, industrial and educational markets. Duraco's brands include Twin Stick(r), Dubl Kote(r), and TeachersTape(r) adhesive coated products. In addition to selling its own manufactured products, Duraco is a leading value-added distributor of 3M adhesive products. Established in 1947 and based in Forest Park, Ill., Duraco employs over 120 associates and generated net sales of approximately $30.3 million for its latest completed fiscal year ended December 31, 2006. Duraco's commitment to service and quality has earned it a reputation as the premier provider of adhesive coated foam tape in the market today. The company's name has become synonymous with quality in adhesive foam tapes. It will continue to operate under the Duraco banner within the Filtrona organization.
About Filtrona plc
Filtrona plc is an international, market-leading specialty plastic and fiber products supplier. Filtrona, which employs some 5,600 people worldwide, has 37 manufacturing facilities, 32 distribution units and four research facilities spread across 23 countries in the Americas, Europe and Asia. By concentrating on niche international markets, Filtrona has been able to establish and develop strong positions in chosen product categories. Filtrona is segmented into Plastic Technologies and Fibre Technologies, each contributing similar levels of sales to the company. Plastic Technologies produces, sources and distributes protection and finishing products, self-adhesive tear tape and certain security products, as well as proprietary and customized plastic extrusions and packaging items for consumer products. Fibre Technologies focuses on the production and supply of special filters for cigarettes and bonded fiber products such as reservoirs and wicks for writing instruments and printers, household products and medical diagnostic devices. Filtrona's 2006 revenue totaled GBP 544.2 million.