tesa tape, inc. Acquires Functional Coatings, Inc.
CHARLOTTE, N.C. – May 24, 2018 – Functional Coatings, Inc., based in Newburyport, Mass., is to become a wholly owned affiliate of tesa tape inc., North America. The move will allow the tesa Group, a global market leader in numerous industries, to strengthen its market position in the building and construction industry.
“The innovative adhesive tape and sealing products from Functional Coatings, Inc. are the perfect addition to our existing tesa product range in the building supply segment,” said Paul Sullivan, President and Regional Manager of tesa tape, inc. “This will help us tap into the full potential of this resurgent segment in North America.”
Founded in 1989 by Robert Lynch, Functional Coatings has grown to 80 employees. Ownership currently belongs to second generation family members Stephen and David Lynch, as well as General Manager Gerald Fortier. The company is known primarily for VOC-free adhesive tapes on a butyl hybrid basis. The thick, easily processed high-performance tapes offer various advantages over VOC-emitting methods such as bitumen or asphalt solutions. In addition, the company has a broad spectrum of solutions for fast, reliable processing – even at low and high temperatures.
“Functional Coatings, Inc. looks forward to the opportunity to contribute our unique knowledge and expertise and achieve even stronger growth in the future,” said owner Stephen Lynch. “We found a strong partner with tesa as they are a global leading manufacturer of technical adhesive tapes and self-adhesive solutions.”
tesa SE is one of the world’s leading manufacturers of technical adhesive tapes and self-adhesive system solutions (more than 7,000 products) for industrial and trade customers as well as end consumers. tesa SE (4,100 employees) has been a fully owned subsidiary of Beiersdorf AG since 2001 (including NIVEA, Eucerin, la prairie). Applications for various industrial sectors – such as the automotive industry, the electronics sector (e.g. smartphones, tablets), printing and paper, building supply, and security concepts for effective brand and product protection – account for about 76% of the tesa Group’s sales (2016: €1,146.00 million). tesa also partners with the pharmaceuticals industry to develop medicated patches. tesa earns 24% of its sales in the consumer and craftsmen segment, where 300 products for end consumers make working in the home and the office easier.