12.07.16
Platinum Equity has completed the sale of Mactac Americas, LLC, to Lintec Corporation in a transaction valued at approximately $375 million.
Headquartered in Tokyo, Lintec is a manufacturer of adhesive-related products with operations in 15 countries around the world. Mactac, based in Ohio, is a manufacturer and distributor of pressure sensitive labels with operations in the United States, Canada and Mexico. The company's products are used in a wide range of industries including label printing, graphic design, packaging, digital imaging, retail display, fleet graphics, assembly engineering, automotive assembly, and medical device assembly.
Platinum Equity acquired Mactac from Bemis Company, Inc. in November 2014. In August 2016, Platinum Equity divested Mactac's European business to Avery Dennison.
Platinum Equity Partner Louis Samson emphasizes that Mactac has experienced a significant turnaround in recent years and joins Lintec with strong momentum. He says, "Mactac's success during our ownership is a testament to a strong partnership with the management team and a commitment to sustainable operational improvements and new product innovation. As a result, the company's financial performance has been superb and the business is well positioned for continued growth and success."
Samson points out that Mactac has achieved steady top-line growth, healthy margins and dramatically improved earnings over the past two years and notes hat adjusted EBITDA grew more than 40% from 2014 to 2015.
Moelis & Company, LLC and Goldman, Sachs & Co. served as financial advisors to Platinum Equity and Latham and Watkins served as Platinum Equity's legal counsel.
Headquartered in Tokyo, Lintec is a manufacturer of adhesive-related products with operations in 15 countries around the world. Mactac, based in Ohio, is a manufacturer and distributor of pressure sensitive labels with operations in the United States, Canada and Mexico. The company's products are used in a wide range of industries including label printing, graphic design, packaging, digital imaging, retail display, fleet graphics, assembly engineering, automotive assembly, and medical device assembly.
Platinum Equity acquired Mactac from Bemis Company, Inc. in November 2014. In August 2016, Platinum Equity divested Mactac's European business to Avery Dennison.
Platinum Equity Partner Louis Samson emphasizes that Mactac has experienced a significant turnaround in recent years and joins Lintec with strong momentum. He says, "Mactac's success during our ownership is a testament to a strong partnership with the management team and a commitment to sustainable operational improvements and new product innovation. As a result, the company's financial performance has been superb and the business is well positioned for continued growth and success."
Samson points out that Mactac has achieved steady top-line growth, healthy margins and dramatically improved earnings over the past two years and notes hat adjusted EBITDA grew more than 40% from 2014 to 2015.
Moelis & Company, LLC and Goldman, Sachs & Co. served as financial advisors to Platinum Equity and Latham and Watkins served as Platinum Equity's legal counsel.