Mactac, a LINTEC company and supplier of pressure-sensitive adhesives, has completed the acquisition of Spinnaker Coating LLC, which it says represents $130 million of specialty revenue at a price of $40 million.
The asset purchase consists of Spinnaker’s manufacturing facility and headquarters based in Troy, Ohio, and North American distribution centers located in Atlanta, Georgia; Chicago, Illinois; Los Angeles, California; and Vails Gate, New York. The company says Spinnaker will operate as a standalone subsidiary of Mactac.
With Spinnaker, LINTEC, and Duramark Products (formally Ritrama USA and acquired by Mactac earlier in 2021) serving the industry together, Mactac will now provide the North American market with support and capacity.
“Mactac built upon our solid foundation adding enhanced service, capabilities, and breadth of product offering,” says 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 business model, we will expand Mactac and Spinnaker specialty labelstock offerings to create a model unlike any other.”
Mactac says it plans to add five new slitting assets in 2022 in order to further grow its adhesive formulation and manufacturing capabilities.