Scapa (SCPA) chief executive Heejae Chae promised the tapes and adhesives company's next acquisition would be an Asian electronics business, and it looks like he's a man of his word. Scapa has teamed up with South Korean private equity house SkyLake Incuvest and talks to buy local speciality tapes company Tapex for a reported $90m (£59m) are under way.
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Tapex makes tape and film for companies such as Samsung and LG - already Scapa customers - to use in flat panel displays and touch panels. It posted a pre-tax profit of $11.1m in 2011 on sales of $82.5m and would clearly even up Scapa's exposure between its medical and industrial divisions and its currently tiny electronics division.
