TJC completed the acquisition in partnership with Spartech's existing management team
Spartech, LLC (“Spartech”) and The Jordan Company, L.P. (“TJC”) announced that one of TJC’s affiliates has closed the acquisition of Spartech, a leading manufacturer of engineered thermoplastics and custom packaging solutions.
TJC completed the acquisition in partnership with Spartech’s existing management team. Nautic Partners will remain a minority shareholder. As part of the transaction, industry veteran Andy Brewer has become Executive Chairman. The investment by TJC will provide Spartech with new opportunities for growth and enhance its abilities to develop and deliver plastics solutions to its valued customers.
“We are excited to work with The Jordan Company team as we continue to expand Spartech’s technology, design, product development, and service offerings to deliver exemplary value for our customers,” said Spartech CEO John Inks. “Given TJC’s experience, they will complement Spartech’s focus on innovation, speed and quality very well. We are confident we will continue to build on the strong customer relationships for which our company is widely recognized while expanding capabilities to enhance our ability to deliver unique engineered thermoplastics solutions for our customers. We look forward to partnering with Andy Brewer and TJC.”
“We are thrilled to be partnering with the Spartech management team as the company builds on its recent success and enters its next phase of growth,” said Dan Williams, Partner at The Jordan Company. “We will continue to invest heavily in the business to support organic growth and strategic acquisitions.”
“Spartech has a reputation for providing high quality specialty engineered materials and delivering excellent customer service,” said incoming Executive Chairman Andy Brewer. “I am excited to join the team and help drive innovation, growth and strategic acquisitions.”
Winston & Strawn LLP acted as legal advisor and Houlihan Lokey, Inc. acted as financial advisor to TJC.
Source: Company Press Release