Press Release - Strategic Exit Advisors announces that its client, Primetac Corporation has been acquired by Akoya Capital Partners and Tecum Capital Partners
Doylestown, PA – August 31, 2019. Strategic Exit Advisors (“SEA”) today announced that its client, Primetac Corporation (“Primetac”, or the “Company”) has been acquired by Akoya Capital Partners, LLC (“Akoya”) and Tecum Capital Partners (“Tecum”) in partnership with the founders and management team. SEA acted as the exclusive financial advisor to Primetac.
“We were very pleased with SEA’s extremely thorough process that ultimately identified such a strong partner for Primetac. Akoya’s strong business acumen, industry knowledge and culture makes them the ideal business partner to help Primetac realize its next phase of growth.” said Peter Feniello, CEO of Primetac. “I could not be happier with SEA’s guidance, as well as the final outcome. Their counsel and assistance in articulating our value proposition and how they dealt with challenges throughout the process was invaluable to us.”
Dave Burger, Managing Director at Akoya, commented, “We are excited to be partnering with the Feniellos to help them achieve the vision of making Primetac a much larger and stronger national supplier of packaging tapes and related products. 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.”
About Primetac Corporation Founded in 1992 by Peter Feniello and Ferdinand Lutz and headquartered in Little Ferry, NJ, Primetac is a leading distributor of industrial packaging materials including acrylic, hot melt and natural rubber carton sealing tapes, converted stretch films, strapping tapes, masking tapes, and other related products. For information please visit www.primetac.com.
About Strategic Exit Advisors Strategic Exit Advisors (SEA) is a boutique Investment Bank located outside of Philadelphia, PA. Since 1998, the principals of SEA have advised owners of privately held businesses in the middle market on how to prepare for and execute the successful sale of their businesses, primarily in business-to-business and pharma services markets. For more information, please visit www.se-adv.com or call 215- 489-8881.