Wind Point Partners has agreed to sell Argotec to Schweitzer-Mauduit International Inc. for $280 million in cash (subject to certain customary adjustments). Argotec supplies custom engineered, high-performance, polyurethane films and sheet for a wide variety of critical applications.
Chicago, IL, September 21, 2015 — Wind Point Partners, a Chicago-based private equity investment firm, announced today that it has signed a definitive agreement to sell portfolio company Argotec to Schweitzer-Mauduit International, Inc. (NYSE: SWM).
Wind Point acquired Argotec in May 2013 in partnership with Guy Broadbent. Prior to joining Argotec as CEO, Guy served as CEO of Xcellerex, an early stage bio-manufacturing platform backed by Kleiner Perkins Caufield Byers. Prior to that, Guy was President of the $1.8 billion Laboratory Products Group at ThermoFisher Scientific.
Guy Broadbent commented, “Over the past two years we created significant value at Argotec by launching new products, pursuing sales in new markets including medical films and graphic films, and significantly expanding our footprint geographically. Wind Point has been an involved and supportive partner throughout.”
Paul Peterson, a managing director at Wind Point, stated, “We have had a great partnership with Guy and the whole Argotec team during our ownership. They have done an excellent job enhancing Argotec’s product capabilities and expanding into diverse markets.”
Reed Smith LLP acted as legal advisor to Wind Point. Pepper Hamilton LLP acted as legal counsel for Argotec.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point partners with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.
Argotec is a supplier of custom engineered, high-performance, polyurethane films and sheet for a wide variety of critical applications. In addition to flat-die, cast-on-carrier and blown-film-extrusion technologies, Argotec has expertise in extrusion coating, multi-layer constructions and closed-cell polyurethane foam sheet extrusion. Argotec provides TPU film and sheet products globally to the international specialty films market, including adhesive coaters, plastics converters and fabricators, as well as direct to OEM’s. Further information about Argotec may be obtained at www.argotec.com.
SWM is a leading global provider of highly engineered solutions and advanced materials for a variety of industries. Although SWM primarily serves the tobacco industry, it also manufactures specialty papers for other applications and acquired DelStar, Inc. in late 2013 to further expand its product portfolio and the markets it serves. SWM and its subsidiaries conduct business in over 90 countries and employ approximately 3,000 people worldwide, with operations in the United States, United Kingdom, France, Russia, Spain, Luxembourg, Brazil, Canada, Poland and China, including two joint ventures. For further information, please visit the Company’s Web site at www.swmintl.com.