STOW, OH—Mactac, a LINTEC Co, announced it has entered into an agreement to purchase the assets of Spinnaker Coating LLC, representing $130 million of specialty revenue at a price of $40 million.
The acquisition is expected to close on Feb. 1, 2022, and consists of Spinnaker’s manufacturing facility and headquarters based in Troy, Ohio, and North American distribution centers located in Atlanta, GA; Chicago, IL; Los Angeles, CA; and Vails Gate, NY. Spinnaker will operate as a standalone subsidiary of Mactac.
As part of LINTEC, Mactac is one of the largest, most diversified global pressure-sensitive adhesive (PSA) suppliers. Mactac’s acquisition of Spinnaker, which specializes in the customized production and distribution of pressure-sensitive roll label and sheet base materials in North America, creates a one-of-a-kind, world-class specialty labeling company.
With Spinnaker, LINTEC, and Duramark Products (formally Ritrama USA and acquired by Mactac earlier in 2021) serving the industry together, Mactac delivers customers unmatched technology, capability, service and value. These combined pressure-sensitive adhesive technologies provide the North American market with necessary support and capacity.
“Mactac built upon our solid foundation adding enhanced service, capabilities and breadth of product offering,” said Ed LaForge, Mactac president and CEO. “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 specialty solutions. And, with Spinnaker’s unique business model, we will expand Mactac and Spinnaker specialty labelstock offerings to create a model unlike any other.”
The purchase of Spinnaker delivers Mactac customers an abundance of new opportunities in specialty labeling. Spinnaker customers benefit from Mactac’s advanced technologies, innovative solutions, modern production capabilities and depth of technical expertise.
“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,” said Lou Guzzetti, Spinnaker’s chairman of the board. “And, like Spinnaker, Mactac is an employee-centric organization with a service-first culture. We look forward to realizing the possibilities this acquisition brings to our employees and to the market.”
In response to customer and market request for enhanced products and services, supply chain continuity, and added reliability, Mactac is focused on market growth and operational expansion. The Duramark acquisition expanded Mactac’s technology, adhesive capabilities, and production capacity with more facilities and locations, new world-class coaters, and advanced automation technologies. In 2022, Mactac will add five new world-class slitting assets and further grow its adhesive formulation and manufacturing capabilities.
Mactac and its parent company, LINTEC, a global leader in the field of adhesive materials, will continue to invest heavily in R&D and operational enhancements as part of its strategic plan. Mactac’s acquisition of Spinnaker further solidifies LINTEC’s commitment to bring its comprehensive global capabilities to the North American market.