“Our experience working with Peapack-Gladstone Bank was fantastic. As a Private Equity Investor, we typically bring in our own lending relationships when acquiring a new platform and have a very high bar for maintaining the incumbent lender. However, as soon as we met the PGB team, we knew we had a great potential lending partner, eager to continue working with a business they had supported for years. Not only did the Bank offer a creative and competitive financing proposal, but the team’s intimate knowledge of Primetac’s business and deep relationship with the selling shareholders facilitated a smooth transaction and post-closing transition process. We appreciate PGB’s continued support of Primetac and look forward to working with them on other transactions at Akoya.”– Pat Riley, Akoya Capital
Akoya Capital and Tecum Capital Partners own Primetac Acquisition, a leading U.S.-based importer and contract manufacturer of pressure sensitive tapes and stretch films. Primetac offers wholesale distributors a relentlessly quality-oriented solution for carton sealing tape applications. The company’s innovative approach to quality control has been developed in-house over 15 years and has resulted in a unique, high shear line of tapes and cast stretch films. Primetac offers all three adhesive technologies for carton sealing: water-based acrylic tapes with the highest adhesive coat weights in the industry, synthetic hot melt rubber adhesive with exceptional shear for recycled fiberboard, and solvent natural rubber tapes for the most demanding applications.
Lisa Gallo-Conklin, Commercial Private Banker, Peapack-Gladstone Bank