Platinum Equity has closed its previously announced sale of Mactac Americas LLC to LINTEC Corp for about $375 million. Ohio-based Mactac is a maker of pressure sensitive labels. Moelis & Company LLC and Goldman Sachs provided financial advice to Platinum Equity on the transaction.
LOS ANGELES, CA–(Marketwired – December 02, 2016) – Platinum Equity announced today it has completed the sale of Mactac Americas, LLC, to LINTEC Corporation in a transaction valued at approximately $375 million.
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. The company’s 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 joins LINTEC with strong momentum.
“Mactac’s success during our ownership is a testament to a strong partnership with the management team and a commitment to sustainable operational improvements and new product innovation,” 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.
Moelis & Company, LLC and Goldman, Sachs & Co. served as financial advisors to Platinum Equity and Latham and Watkins served as Platinum Equity’s legal counsel.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with a portfolio of approximately 30 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations — a trademarked strategy it calls M&A&O® — acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 20 years Platinum Equity has completed more than 185 acquisitions.