Tecnova India Pvt. Ltd. advised Intertape Polymer Group Inc. (IPG) on a Strategic Partnership with Capstone Polyweave Private Limited (Capstone). The principal purpose of the partnership will be to provide IPG with a globally-competitive supply of woven products.

IPG will be partnering with the current shareholders of Capstone, who are also the shareholders of Airtrax. Airtrax manufactures and sells woven products that are used in various applications, including in the building and construction industry.

The Mergers & Acquisitions team of Tecnova advised IPG in this multi-stage transaction. The team was involved in transaction structuring, negotiation between the parties and was the official investment banker in the deal. The Team was led by Mr. Karan Singal, CEO and Head of Mergers & Acquisitions at Tecnova.

IPG will acquire a 55% interest in Capstone for a cash consideration of approximately USD 13 million.

The deal is valued at approximately USD 25 million and was signed on June 14, 2017.