Adherex Group today announced its acquisition of Stretchtape, a supplier of converted polyethylene and polypropylene films and custom printing solutions for biaxially oriented polypropylene packaging films.
Private equity firm Akoya Capital launched Adherex Group in March with the brands Primetac (purchased in 2019), Concord, Cutting Edge and SpecBond. The group now serves original equipment manufacturers the medical, aerospace, transportation, electronics, industrial and appliance industries.
“This acquisition demonstrates our commitment to being a growth catalyst for today’s packaging distributors,” Adherex Group CEO Bob Marquette said in a news release announcing the Stretchtape purchase. “The integration of Stretchtape gives distributors wider and quicker access to expansive and innovative film converting and printing capabilities, and decades of expertise across markets and applications.”
Before joining Akoya Capital in 2021 and becoming CEO of Cleveland-based Adherex Group in 2022, Marquette spent more than 42 years at Bostik.
Dave Burger, Adherex Group’s executive board chair, was CEO of Edge Adhesives in 2014 when Akoya purchased the company.
Stretchtape President Harry McDonald will join Adherex, calling the move “a natural progression for Stretchtape.”
“Since its inception, our focus has been on meeting customers’ challenges with high-performing solutions,” he said in the news release. “I am excited to become part of a larger team that shares this commitment and enhances our ability to drive customer growth with a broader range of products, localized expertise and a nationwide distribution network to shorten lead times and enhance speed of delivery.”