On March 8, 2022, Intertape Polymer Group Inc. was set to be acquired by an affiliate of Clearlake Capital Group in an all-cash transaction valued at approximately $2.6 billion, inclusive of net debt. The acquisition price for IPG shares was CDN$40.50 each, marking an 82% premium over the closing price on March 7, 2022, on the Toronto Stock Exchange. The deal, expected to close in the third quarter of 2022, would result in IPG becoming privately held. IPG's leadership viewed the transaction as beneficial, enhancing their acquisition strategy and organic growth, with a focus on product innovation and market expansion. Clearlake’s interest was attributed to IPG's successful history, growth in e-commerce, and market leadership. The IPG Board, advised by Morgan Stanley and legal firms Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fasken Martineau DuMoulin, endorsed the deal as in the best interest of shareholders. National Bank Financial also provided an independent fairness opinion. Clearlake, advised by Goldman Sachs as the lead financial advisor, with Credit Suisse and Deutsche Bank Securities also advising, and legal counsel from Kirkland & Ellis LLP and Stikeman Elliott LLP, expressed admiration for IPG’s market position and growth potential, planning to support further growth organically and through acquisitions. The acquisition was not contingent on financing but required shareholder, regulatory, and court approvals, detailed in an information circular distributed to IPG shareholders.