Mactac, a Lintec company, has agreed to purchase the assets of Spinnaker Coating, representing 130 million USD of specialty revenue at a price of 40 million USD. The acquisition is expected to close on February 1, 2022, and consists of Spinnaker’s manufacturing facility and headquarters based in Troy, OH, 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.
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, according to the company.
With Spinnaker, Lintec, and Duramark Products (formally Ritrama USA and acquired by Mactac earlier in 2021) serving the industry together, Mactac says it will deliver customers unmatched technology, capability, service, and value, and with 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, president, and CEO at Mactac. '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 is said to deliver Mactac customers new opportunities in specialty labeling, with Spinnaker customers also benefiting from Mactac’s advanced technologies, innovative systems, 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,' says 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 says its 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 coaters, and advanced automation technologies. In 2022, Mactac will add five new slitting assets and further grow its adhesive formulation and manufacturing capabilities.
Mactac and its parent company, Lintec will continue to invest heavily in research & development 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, says the company.