Mactac would acquire Spinnaker’s assets located in Troy, Ohio, and distribution centres located in Georgia, Illinois, California and New York
Mactac to buy Spinnaker Coating. (Credit: Mika Baumeister/Unsplash.)
Mactac, a subsidiary of semiconductor machinery manufacturer LINTEC, has agreed to acquire pressure-sensitive material manufacturer Spinnaker Coating, for $40m.
The acquisition of Spinnaker Coating, which represents $130m of speciality revenue, is expected to close on 1 February 2022.
The transaction includes the company’s manufacturing facility and headquarters in Troy, Ohio, and distribution centres located in Georgia, Illinois, California and New York.
Upon closing of the transaction, Spinnaker is expected to operate as an individual entity, as a subsidiary of Mactac.
The acquisition would benefit Mactac customers with new opportunities in speciality labelling, while Spinnaker customers from Mactac’s advanced technologies, production capabilities and technical expertise.
Mactac president and CEO Ed LaForge said: “Mactac built upon our solid foundation adding enhanced service, capabilities and breadth of product offering.
“Our combined product offering now encompasses all adhesive technologies, including hot-melt, solvent, silicone and emulsion.
“We offer a wide range of high-quality PSA materials for any application need, such as film, cast vinyl and speciality solutions.
“And, with Spinnaker’s unique business model, we will expand Mactac and Spinnaker speciality labelstock offerings to create a model unlike any other.”
Spinnaker is focused on customised production and distribution of pressure-sensitive roll labels and sheet base materials in North America.
The acquisition of Spinnaker is expected to create a speciality labelling company.
Mactac is a large-scale and diversified global pressure-sensitive adhesive (PSA) supplier.
With Spinnaker, LINTEC, and Duramark Products, which was acquired last year, Mactac is enabled to deliver advanced technology, capability, service, and value to customers.
The pressure-sensitive adhesive technologies from both companies would provide the North American market with the required support and capacity.
Spinnaker Board chairman Lou Guzzetti said: “Joining together gives Spinnaker access to Mactac’s state-of-the-art engineering and technology and offers our customers new and expanded product offerings and adhesive capabilities.
“And, like Spinnaker, Mactac is an employee-centric organization with a service-first culture. We look forward to realising the possibilities this acquisition brings to our employees and to the market.”