Lintec Buys Mactac Americas from Platinum Equity

November 2nd, 2016 by Editor

Lintec Corp, a Tokyo-based manufacturer of adhesive-related products, has signed an agreement with global investment firm Platinum Equity to buy from it the Mactac Americas LLC for $375 million.

Mactac, headquartered in Ohio, is a manufacturer and distributor of pressure sensitive labels with operations in the United States, Canada and Mexico. 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 said Mactac will join Lintec.

“We partnered with Ed LaForge and the company’s management team to transform Mactac by identifying and capitalizing on sustainable operational improvements while driving innovative new products and technologies,” said Samson. “As a result, the company’s financial performance has been superb, and the business is well positioned for continued growth and success.”

Samson also said that Mactac has achieved steady top-line growth, healthy margins and dramatically improved earnings over the past two years and noted that adjusted EBITDA grew more than 40 percent from 2014 to 2015.

Mactac president Ed LaForge credited operational support from Platinum Equity and the strong commitment of Mactac’s employees for driving the turnaround.

“We have achieved remarkable success thanks to a lot of hard work from our employees and a strong partnership with Platinum Equity,” he said. “Working together, we implemented operational improvements throughout all areas of our business, invested in world-class manufacturing technologies, and just last year alone launched more than 40 new products.”

LaForge believes Mactac and Lintec are a great fit going forward. As a leading global pressure sensitive manufacturer, Lintec does operations in 15 countries around the world.

He noted the transaction opens substantial opportunities for growth and expansion across many regions and provides both sides with access to proprietary manufacturing capabilities.

“Our extensive North American presence and unique technologies compliment LINTEC’s international footprint and current product portfolio,” LaForge added.

The company’s sale is expected to be completed in the fourth quarter of 2016.

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