Mactac®, a LINTEC company, 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 February 1, 2022.
Spinnaker specializes in the customized production and distribution of pressure-sensitive roll label and sheet base materials in North America. The acquisition consists of Spinnaker’s manufacturing facility and headquarters in Troy, Ohio, as well as distribution centers in: Atlanta, Ga.; Chicago, Ill.; Los Angeles, Calif.; and Vails Gate, N.Y. Spinnaker will operate as a standalone subsidiary of Mactac.
“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.”
According to Lou Guzzetti, Spinnaker’s chairman of the board, “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. 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.”