Intertape Polymer Group Inc. Completes Going-Private Transaction

MONTREAL, SARASOTA, Fla. and SANTA MONICA, Calif., June 28, 2022 (GLOBE NEWSWIRE) -- Intertape Polymer Group Inc. (TSX: ITP) (“IPG” or the “Company”) is pleased to announce that the acquisition of the Company by an affiliate of Clearlake Capital Group, L.P. (the “Purchaser”) by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act (the “Arrangement”) was completed earlier today. Under the terms of the Arrangement, the Purchaser has acquired all of the outstanding shares of the Company for CDN$40.50 per share.

Consideration for the purchased shares of the Company has been paid to TSX Trust Company, as depositary under the Arrangement, and will be provided to former shareholders as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or Direct Registration System (DRS) Advice(s) representing shares formerly held by them).

As a result of the transaction, the shares of the Company will be de-listed from the Toronto Stock Exchange shortly and the Company will apply to cease to be a reporting issuer in all the provinces and territories of Canada. The Company will also file a Form 15 with the U.S. Securities and Exchange Commission (the “SEC”) to deregister the shares of the Company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and to terminate, its obligation to file reports with the SEC under the Exchange Act.

About Intertape Polymer Group Inc.

Intertape Polymer Group Inc. is a recognized leader in the development, manufacture and sale of a variety of paper and film based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery for industrial and retail use. Headquartered in Montreal, Québec and Sarasota, Florida, IPG employs approximately 4,200 employees with operations in 34 locations, including 22 manufacturing facilities in North America, five in Asia and two in Europe. For information about the Company, visit www.itape.com.