Japanese firm buys Mactac Americas for US$ 375 million; San Luis Potosi plant included

26 October, 2016

Warning: foreach() argument must be of type array|object, bool given in /home/mexiconow/public_html/sites/mexiconow/wp-content/themes/mexiconowwpnew/single.php on line 254

Platinum Equity announced it has signed a definitive agreement to sell printing and packaging solutions supplier Mactac Americas, LLC, to LINTEC Corporation in a transaction valued at approximately US$ 375 million. The sale is expected to be completed during the fourth quarter of 2016, according to a press release.

LINTEC, headquartered in Tokyo, is a manufacturer of adhesive-related products with operations in 15 countries around the world. Mactac, headquartered in Ohio, is a manufacturer and distributor of pressure sensitive labels with operations in the United States, Canada and Mexico, where the company owns a plant in San Luis Potosi.

Its 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 said Mactac has experienced a significant turnaround in recent years and will join LINTEC with strong momentum.

"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 Platinum Equity Partner Louis Samson. "As a result, the company's financial performance has been superb and the business is well positioned for continued growth and success."

Samson said 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% from 2014 to 2015.

MexicoNow

- Rockwell Collins acquires B/E Aerospace; deal includes operations in Mexico

- Altesa, largest ice cream cone producer in Mexico, has a new owner

- European auto supplier to acquire Key Plastics; deal includes two plants in Chihuahua